Over-assessed vs. comparables

971 Crandon Blvd 22

Key Biscayne, 33149 · Miami-Dade County, Florida · commercial property · 800 sq ft · Fla. Stat. s.193.011(8)

$3,594estimated 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$520,000
What the comparable sales support$334,741
Estimated over-assessment$185,259 · 35.6%
Comparable basis$492/SF
Estimated tax saved / year$3,594

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
$365$367823 SF1981
$376$374719 SF1981
$396$401770 SF1983
$438$437740 SF1981
$483$492786 SF1984
$483$492786 SF1984
$483$492786 SF1984
$500$508800 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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