Over-assessed vs. comparables

4809 N Armenia Ave

Tampa, 33603 · Hillsborough County, Florida · commercial property · 22,430 sq ft · Fla. Stat. s.193.011(8)

$26,426estimated 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$4,063,300
What the comparable sales support$2,694,098
Estimated over-assessment$1,369,202 · 33.7%
Comparable basis$141/SF
Estimated tax saved / year$26,426

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
$59$5923,731 SF1967
$72$7217,391 SF1971
$92$9625,066 SF1973
$104$10426,471 SF1964
$140$13315,269 SF1964
$152$15015,175 SF1971
$160$15923,947 SF1965
$164$16417,339 SF1971

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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