Over-assessed vs. comparables

1114 SW 1 St

Miami, 33130 · Miami-Dade County, Florida · commercial property · 1,433 sq ft · Fla. Stat. s.193.011(8)

$4,724estimated 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

Miami-Dade public rollFlorida
Current assessment$980,007
What the comparable sales support$736,478
Estimated over-assessment$243,529 · 24.9%
Comparable basis$605/SF
Estimated tax saved / year$4,724

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
$241$2571,559 SF1938
$291$3012,010 SF1925
$437$4421,578 SF1926
$479$5051,294 SF1939
$516$5352,034 SF1925
$638$6741,254 SF1940
$723$680930 SF1921
$780$8031,090 SF1937

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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