Over-assessed vs. comparables

6705 Red Rd 614

Coral Gables, 33143 · Miami-Dade County, Florida · commercial property · 2,048 sq ft · Fla. Stat. s.193.011(8)

$5,688estimated 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$1,331,200
What the comparable sales support$1,038,012
Estimated over-assessment$293,188 · 22.0%
Comparable basis$596/SF
Estimated tax saved / year$5,688

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
$234$2362,140 SF2008
$318$3141,825 SF2007
$364$3672,255 SF2007
$457$4602,187 SF2007
$556$5511,980 SF2006
$649$6421,810 SF2007
$660$6682,173 SF2008
$693$6962,019 SF2008

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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