Over-assessed vs. comparables

1202 Dr Martin Luther King Jr Blvd

Pompano Beach, 33069 · Broward County, Florida · industrial property · 1,287 sq ft · Fla. Stat. s.193.011(8)

$4,056estimated 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$635,160
What the comparable sales support$437,318
Estimated over-assessment$197,842 · 31.1%
Comparable basis$378/SF
Estimated tax saved / year$4,056

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 8 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
$273$2681,266 SF2002
$315$3131,143 SF2006
$318$3211,354 SF2006
$329$3361,412 SF2007
$365$3661,340 SF2005
$381$3891,534 SF2005
$407$4131,412 SF2006
$411$4171,412 SF2006

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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