Over-assessed vs. comparables

1860 N Republica De Cuba Ave

Tampa, 33605 · Hillsborough County, Florida · commercial property · 5,894 sq ft · Fla. Stat. s.193.011(8)

$17,792estimated 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$2,388,000
What the comparable sales support$1,466,158
Estimated over-assessment$921,842 · 38.6%
Comparable basis$293/SF
Estimated tax saved / year$17,792

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
$154$1516,484 SF1990
$147$1515,619 SF2003
$158$1636,314 SF2000
$182$1886,028 SF2002
$265$2624,520 SF1998
$311$3235,848 SF2004
$352$3446,394 SF1990
$363$3505,651 SF1990

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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