Over-assessed vs. comparables

1016 Bloomingdale Ave

Valrico, 33596 · Hillsborough County, Florida · commercial property · 3,707 sq ft · Fla. Stat. s.193.011(8)

$6,893estimated 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

Hillsborough public rollFlorida
Current assessment$1,125,000
What the comparable sales support$767,872
Estimated over-assessment$357,128 · 31.7%
Comparable basis$244/SF
Estimated tax saved / year$6,893

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
$199$1953,187 SF2006
$207$2083,748 SF2008
$227$2223,637 SF2003
$231$2273,030 SF2007
$245$2412,996 SF2007
$250$2473,556 SF2005
$277$2743,976 SF2004
$341$3353,447 SF2005

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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