Possible over-assessment

425 SW 10 Ave

Miami, 33130 · Miami-Dade County, Florida · multifamily property · 29,321 sq ft · Fla. Stat. s.193.011(8)

$3,922estimated overpaid in property tax / year

The public records suggest this property may be over-assessed, but the comparison is wide enough that we verify it by hand — free, with no obligation — before saying you have a case.

What the public records show

Miami-Dade public rollFlorida
Current assessment$8,100,000
What the comparable sales support$7,897,827
Estimated over-assessment$202,173 · 2.5%
Comparable basis$317/SF
Estimated tax saved / year$3,922

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
$211$19513,361 SF1925
$248$2359,860 SF1933
$268$2449,615 SF1925
$301$27611,612 SF1925
$325$29815,187 SF1923
$354$33619,774 SF1926
$323$35027,645 SF1948
$384$35413,285 SF1925

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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