Over-assessed vs. comparables

7330 Ocean Ter Cu-5

Miami Beach, 33141 · Miami-Dade County, Florida · commercial property · 930 sq ft · Fla. Stat. s.193.011(8)

$3,642estimated 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$525,450
What the comparable sales support$337,700
Estimated over-assessment$187,750 · 35.7%
Comparable basis$427/SF
Estimated tax saved / year$3,642

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
$326$331965 SF2001
$339$340870 SF2001
$368$376977 SF2002
$381$386965 SF2001
$417$424983 SF2001
$425$431965 SF2001
$440$446965 SF2001
$444$450965 SF2001

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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