Over-assessed vs. comparables

1300 Brickell Bay Dr Cu 2

Miami, 33131 · Miami-Dade County, Florida · commercial property · 1,073 sq ft · Fla. Stat. s.193.011(8)

$7,993estimated 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$1,073,000
What the comparable sales support$660,979
Estimated over-assessment$412,021 · 38.4%
Comparable basis$725/SF
Estimated tax saved / year$7,993

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$4341,067 SF2016
$459$4631,045 SF2016
$500$4841,050 SF2008
$619$6211,001 SF2016
$674$676994 SF2016
$775$7741,007 SF2015
$1018$1028968 SF2018
$1465$14191,007 SF2009

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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