Over-assessed vs. comparables

1201 NE 45 St

Oakland Park, 33334 · Broward County, Florida · industrial property · 79,659 sq ft · Fla. Stat. s.193.011(8)

$98,782estimated overpaid in property tax / year

This property's assessment sits above the comparable basis its tax bill should follow — a strong opening for an appeal.

What the public records show

Broward public rollFlorida
Current assessment$14,328,030
What the comparable sales support$9,509,372
Estimated over-assessment$4,818,658 · 33.6%
Comparable basis$133/SF
Estimated tax saved / year$98,782

Straight from the public Florida roll. The estimated saving applies an estimated composite millage to the over-assessment. We adjust comparables for size, age, and location before we say a word about your property — and we never name owners.

The comparable basis

The 5 comparable sales behind the number

Each comparable is adjusted toward this property for size and age, then we take the median. Owners are never named — only the public sale figures matter.

Comparable sale $/SFAdjusted $/SFSizeBuilt
$76$7359,520 SF1965
$136$12947,778 SF1963
$136$13359,524 SF1966
$236$22645,857 SF1966
$234$24562,396 SF1980

Why this is the lever

Fla. Stat. s.193.011(8)

Under s.193.011(8), Just Value must be net of the usual and reasonable costs of sale (customarily ~15%). Where an assessment meets or exceeds the gross price comparable properties actually sold for, it cannot reflect net-of-cost just value, and the Value Adjustment Board can reduce it.

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