Over-assessed vs. comparables

350 E Palm Dr

Florida City, 33034 · Miami-Dade County, Florida · commercial property · 7,361 sq ft · Fla. Stat. s.193.011(8)

$27,297estimated 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$4,143,649
What the comparable sales support$2,736,569
Estimated over-assessment$1,407,080 · 34.0%
Comparable basis$437/SF
Estimated tax saved / year$27,297

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
$289$2837,015 SF1969
$322$3217,858 SF1970
$345$3375,805 SF1972
$376$3838,720 SF1972
$445$4377,150 SF1969
$435$4387,066 SF1974
$494$4757,500 SF1964
$518$4947,254 SF1963

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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