Over-assessed vs. comparables

251 Hibiscus Dr

Miami Springs, 33166 · Miami-Dade County, Florida · multifamily property · 5,184 sq ft · Fla. Stat. s.193.011(8)

$7,753estimated 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$1,960,000
What the comparable sales support$1,560,357
Estimated over-assessment$399,643 · 20.4%
Comparable basis$354/SF
Estimated tax saved / year$7,753

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
$215$2084,649 SF1950
$288$2926,030 SF1955
$298$2955,430 SF1952
$320$3265,542 SF1957
$332$3445,128 SF1962
$363$3644,815 SF1957
$355$3685,762 SF1960
$429$4144,657 SF1950

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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