Over-assessed vs. comparables

5602 W Waters Ave

Tampa, 33634 · Hillsborough County, Florida · commercial property · 5,712 sq ft · Fla. Stat. s.193.011(8)

$10,920estimated 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$2,211,400
What the comparable sales support$1,645,609
Estimated over-assessment$565,791 · 25.6%
Comparable basis$339/SF
Estimated tax saved / year$10,920

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
$147$1505,619 SF2003
$158$1616,314 SF2000
$182$1866,028 SF2002
$311$3205,848 SF2004
$328$3355,438 SF2004
$339$3435,315 SF2003
$366$3695,456 SF2002
$467$4615,894 SF1996

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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