Over-assessed vs. comparables

490 NW 26 St

Miami, 33127 · Miami-Dade County, Florida · industrial property · 6,959 sq ft · Fla. Stat. s.193.011(8)

$17,180estimated 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$4,154,526
What the comparable sales support$3,268,969
Estimated over-assessment$885,557 · 21.3%
Comparable basis$553/SF
Estimated tax saved / year$17,180

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
$159$1606,338 SF1955
$239$2427,125 SF1954
$244$2437,200 SF1950
$315$3237,392 SF1956
$455$4677,687 SF1955
$649$6386,164 SF1951
$757$7497,268 SF1949
$854$8235,857 SF1948

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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