Over-assessed vs. comparables

1925 SW 3 St

Miami, 33135 · Miami-Dade County, Florida · multifamily property · 9,212 sq ft · Fla. Stat. s.193.011(8)

$12,552estimated 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$3,400,000
What the comparable sales support$2,752,972
Estimated over-assessment$647,028 · 19.0%
Comparable basis$352/SF
Estimated tax saved / year$12,552

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
$199$1997,334 SF1969
$267$2608,818 SF1961
$289$2806,406 SF1965
$286$2868,310 SF1967
$336$33610,576 SF1962
$377$3689,290 SF1960
$401$3876,858 SF1963
$384$3898,980 SF1968

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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