Over-assessed vs. comparables

5461 N 41 Hwy

Apollo Beach, 33572 · Hillsborough County, Florida · commercial property · 3,928 sq ft · Fla. Stat. s.193.011(8)

$6,794estimated 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$1,226,000
What the comparable sales support$873,971
Estimated over-assessment$352,029 · 28.7%
Comparable basis$262/SF
Estimated tax saved / year$6,794

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
$97$984,320 SF2004
$207$2093,748 SF2008
$223$2183,930 SF2001
$227$2233,637 SF2003
$250$2483,556 SF2005
$277$2763,976 SF2004
$305$3084,260 SF2005
$341$3373,447 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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