Over-assessed vs. comparables

2020 Ponce De Leon Blvd 1106

Coral Gables, 33134 · Miami-Dade County, Florida · commercial property · 362 sq ft · Fla. Stat. s.193.011(8)

$1,462estimated 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$235,300
What the comparable sales support$159,947
Estimated over-assessment$75,353 · 32.0%
Comparable basis$520/SF
Estimated tax saved / year$1,462

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
$229$237358 SF2016
$235$244374 SF2016
$265$274358 SF2016
$321$332358 SF2016
$503$520358 SF2016
$503$520358 SF2016
$831$841439 SF2007
$913$914438 SF2005

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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