Over-assessed vs. comparables

16011 N Nebraska Ave

Lutz, 33549 · Hillsborough County, Florida · industrial property · 25,533 sq ft · Fla. Stat. s.193.011(8)

$15,154estimated 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$3,235,200
What the comparable sales support$2,449,995
Estimated over-assessment$785,205 · 24.3%
Comparable basis$113/SF
Estimated tax saved / year$15,154

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
$73$7219,182 SF1986
$76$7723,317 SF1991
$88$8727,148 SF1981
$95$9118,233 SF1984
$92$9219,470 SF1989
$130$13431,104 SF1986
$163$16119,670 SF1988
$178$17724,333 SF1985

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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