Over-assessed vs. comparables

1259 NW 7 St

Miami, 33125 · Miami-Dade County, Florida · commercial property · 4,441 sq ft · Fla. Stat. s.193.011(8)

$17,015estimated 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$2,754,132
What the comparable sales support$1,877,062
Estimated over-assessment$877,070 · 31.9%
Comparable basis$497/SF
Estimated tax saved / year$17,015

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
$144$1494,292 SF1987
$305$3054,420 SF1980
$364$3534,666 SF1973
$417$4193,954 SF1983
$494$4894,920 SF1976
$524$5053,700 SF1976
$563$5603,552 SF1983
$710$6864,510 SF1973

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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