Over-assessed vs. comparables

321 NE 59 Ter 321

Miami, 33137 · Miami-Dade County, Florida · industrial property · 2,175 sq ft · Fla. Stat. s.193.011(8)

$2,194estimated 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$717,750
What the comparable sales support$604,646
Estimated over-assessment$113,104 · 15.8%
Comparable basis$327/SF
Estimated tax saved / year$2,194

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 5 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
$279$3032,600 SF1972
$292$3162,702 SF1970
$313$3271,600 SF1974
$308$3332,400 SF1973
$394$4061,521 SF1971

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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