Over-assessed vs. comparables

5050 NW 12 Ave

Fort Lauderdale, 33309 · Broward County, Florida · industrial property · 4,020 sq ft · Fla. Stat. s.193.011(8)

$9,659estimated 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$1,428,080
What the comparable sales support$956,911
Estimated over-assessment$471,169 · 33.0%
Comparable basis$264/SF
Estimated tax saved / year$9,659

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
$176$1805,191 SF1983
$230$2232,800 SF1985
$241$2403,522 SF1986
$250$2443,000 SF1985
$269$2592,450 SF1985
$279$2702,564 SF1986
$273$2814,390 SF1989
$285$2905,000 SF1984

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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