Over-assessed vs. comparables

2701 SW 10 St

Miami, 33135 · Miami-Dade County, Florida · multifamily property · 23,752 sq ft · Fla. Stat. s.193.011(8)

$24,206estimated 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$6,700,000
What the comparable sales support$5,452,246
Estimated over-assessment$1,247,754 · 18.6%
Comparable basis$270/SF
Estimated tax saved / year$24,206

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
$180$19033,308 SF1971
$192$20230,775 SF1973
$232$23626,266 SF1969
$270$26013,714 SF1969
$253$26424,067 SF1976
$268$27624,215 SF1974
$346$33615,354 SF1969
$377$38734,114 SF1965

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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