Over-assessed vs. comparables

6705 Red Rd 404

Coral Gables, 33143 · Miami-Dade County, Florida · commercial property · 1,112 sq ft · Fla. Stat. s.193.011(8)

$5,144estimated 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$756,160
What the comparable sales support$491,004
Estimated over-assessment$265,156 · 35.1%
Comparable basis$519/SF
Estimated tax saved / year$5,144

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
$407$4031,057 SF2006
$469$4671,067 SF2007
$500$5001,050 SF2008
$503$5021,093 SF2007
$507$5061,074 SF2007
$531$5331,112 SF2008
$588$5901,088 SF2008
$895$8931,145 SF2006

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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