Over-assessed vs. comparables

3670 Broadway

Fort Myers, 33901 · Lee County, Florida · industrial property · 17,746 sq ft · Fla. Stat. s.193.011(8)

$11,445estimated 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

Lee public rollFlorida
Current assessment$2,483,720
What the comparable sales support$1,881,331
Estimated over-assessment$602,389 · 24.3%
Comparable basis$125/SF
Estimated tax saved / year$11,445

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
$96$9017,768 SF1985
$102$9516,668 SF1985
$113$11118,117 SF1993
$114$11313,125 SF2000
$123$11715,000 SF1990
$135$13215,281 SF1996
$141$14216,800 SF1999
$147$14612,267 SF2002

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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