Over-assessed vs. comparables

1200 Brickell Bay Dr 10

Miami, 33131 · Miami-Dade County, Florida · commercial property · 273 sq ft · Fla. Stat. s.193.011(8)

$704estimated 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$163,800
What the comparable sales support$127,524
Estimated over-assessment$36,276 · 22.1%
Comparable basis$550/SF
Estimated tax saved / year$704

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 7 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
$229$250358 SF2016
$265$290358 SF2016
$321$351358 SF2016
$503$550358 SF2016
$503$550358 SF2016
$933$946284 SF2006
$1070$1080271 SF2006

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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