Over-assessed vs. comparables

7601 E Treasure Dr Cu-5

North Bay Village, 33141 · Miami-Dade County, Florida · commercial property · 400 sq ft · Fla. Stat. s.193.011(8)

$721estimated 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$240,000
What the comparable sales support$202,845
Estimated over-assessment$37,155 · 15.5%
Comparable basis$597/SF
Estimated tax saved / year$721

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
$228$216394 SF1976
$214$221515 SF1988
$319$323501 SF1984
$359$359418 SF1986
$485$502515 SF1988
$678$691538 SF1984
$708$703367 SF1987
$847$858531 SF1983

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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