Over-assessed vs. comparables

840 NW 71 St

Miami, 33150 · Miami-Dade County, Florida · industrial property · 5,083 sq ft · Fla. Stat. s.193.011(8)

$5,711estimated 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$1,429,000
What the comparable sales support$1,134,640
Estimated over-assessment$294,360 · 20.6%
Comparable basis$263/SF
Estimated tax saved / year$5,711

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
$152$1484,125 SF1957
$152$1565,940 SF1960
$158$1584,968 SF1959
$242$2384,125 SF1958
$266$2594,140 SF1957
$267$2665,618 SF1955
$272$2724,968 SF1959
$289$2955,530 SF1960

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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