Over-assessed vs. comparables

1201 20 St Cu-6

Miami Beach, 33139 · Miami-Dade County, Florida · commercial property · 1,093 sq ft · Fla. Stat. s.193.011(8)

$7,751estimated 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$1,000,095
What the comparable sales support$600,582
Estimated over-assessment$399,513 · 40.0%
Comparable basis$646/SF
Estimated tax saved / year$7,751

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
$430$4291,067 SF2016
$459$4571,045 SF2016
$532$519819 SF2016
$619$6141,001 SF2016
$641$625819 SF2016
$674$668994 SF2016
$775$7651,007 SF2015
$1018$1016968 SF2018

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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