Over-assessed vs. comparables

832 Collins Ave

Miami Beach, 33139 · Miami-Dade County, Florida · commercial property · 9,464 sq ft · Fla. Stat. s.193.011(8)

$55,766estimated 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$7,382,000
What the comparable sales support$4,507,444
Estimated over-assessment$2,874,556 · 38.9%
Comparable basis$560/SF
Estimated tax saved / year$55,766

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
$87$9110,348 SF1930
$283$2724,771 SF1925
$355$3655,628 SF1937
$482$5108,826 SF1936
$602$6119,476 SF1926
$765$7457,906 SF1921
$1224$12438,543 SF1928
$4019$40478,709 SF1926

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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