Over-assessed vs. comparables

3012 W De Leon St

Tampa, 33609 · Hillsborough County, Florida · multifamily property · 11,988 sq ft · Fla. Stat. s.193.011(8)

$16,689estimated 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$3,231,200
What the comparable sales support$2,366,495
Estimated over-assessment$864,705 · 26.8%
Comparable basis$232/SF
Estimated tax saved / year$16,689

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
$118$1127,200 SF1977
$129$1217,849 SF1973
$168$17814,856 SF1986
$207$1927,020 SF1973
$231$23111,891 SF1979
$222$23315,350 SF1984
$249$24214,080 SF1970
$250$25410,014 SF1986

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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