Over-assessed vs. comparables

41 SE 5 St Cu-1

Miami, 33131 · Miami-Dade County, Florida · commercial property · 683 sq ft · Fla. Stat. s.193.011(8)

$1,656estimated 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$358,575
What the comparable sales support$273,190
Estimated over-assessment$85,385 · 23.8%
Comparable basis$471/SF
Estimated tax saved / year$1,656

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
$411$408609 SF2007
$427$424609 SF2007
$452$449609 SF2007
$460$457609 SF2007
$460$462685 SF2007
$477$479682 SF2007
$475$482748 SF2007
$489$486609 SF2007

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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