Over-assessed vs. comparables

456 W 41 St

Miami Beach, 33140 · Miami-Dade County, Florida · commercial property · 5,711 sq ft · Fla. Stat. s.193.011(8)

$17,798estimated 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$2,966,000
What the comparable sales support$2,048,567
Estimated over-assessment$917,433 · 30.9%
Comparable basis$422/SF
Estimated tax saved / year$17,798

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
$177$1886,487 SF1939
$283$2714,771 SF1925
$340$3363,976 SF1934
$355$3675,628 SF1937
$390$3763,588 SF1930
$444$4686,031 SF1940
$570$5613,725 SF1934
$605$5754,300 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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