Over-assessed vs. comparables

70 SE 5 St 104

Miami, 33131 · Miami-Dade County, Florida · commercial property · 830 sq ft · Fla. Stat. s.193.011(8)

$3,590estimated 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$561,000
What the comparable sales support$375,971
Estimated over-assessment$185,029 · 33.0%
Comparable basis$533/SF
Estimated tax saved / year$3,590

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
$336$334859 SF2007
$417$411756 SF2008
$474$468844 SF2006
$495$489848 SF2006
$494$491809 SF2008
$568$575933 SF2009
$592$593845 SF2009
$633$626830 SF2007

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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