Over-assessed vs. comparables

551 N Fort Lauderdale Beach Blvd

Fort Lauderdale, 33304 · Broward County, Florida · commercial property · 720 sq ft · Fla. Stat. s.193.011(8)

$1,731estimated 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$602,890
What the comparable sales support$518,452
Estimated over-assessment$84,438 · 14.0%
Comparable basis$800/SF
Estimated tax saved / year$1,731

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
$414$404662 SF2006
$725$711579 SF2009
$725$711579 SF2009
$760$745579 SF2009
$803$787579 SF2009
$829$813579 SF2009
$856$836730 SF2004
$993$993720 SF2009

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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