Over-assessed vs. comparables

7981 Gladiolus Dr

Fort Myers, 33908 · Lee County, Florida · commercial property · 9,914 sq ft · Fla. Stat. s.193.011(8)

$13,184estimated 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$3,402,928
What the comparable sales support$2,709,011
Estimated over-assessment$693,917 · 20.4%
Comparable basis$321/SF
Estimated tax saved / year$13,184

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
$183$1808,840 SF2003
$191$1949,678 SF2007
$227$2299,238 SF2007
$239$24410,265 SF2007
$302$3039,950 SF2005
$349$3406,454 SF2006
$372$3545,095 SF2004
$359$36911,143 SF2007

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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