Over-assessed vs. comparables

1520 Alton Rd

Miami Beach, 33139 · Miami-Dade County, Florida · commercial property · 5,250 sq ft · Fla. Stat. s.193.011(8)

$10,988estimated 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$2,366,398
What the comparable sales support$1,800,030
Estimated over-assessment$566,368 · 23.9%
Comparable basis$403/SF
Estimated tax saved / year$10,988

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
$177$1816,487 SF1939
$201$2044,484 SF1945
$216$2204,640 SF1946
$288$2905,214 SF1941
$355$3545,628 SF1937
$444$4526,031 SF1940
$518$5425,786 SF1946
$644$6304,662 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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