Over-assessed vs. comparables

11412 Space Blvd

Orlando, 32837 · Orange County, Florida · industrial property · 5,000 sq ft · Fla. Stat. s.193.011(8)

$3,411estimated 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

Orange public rollFlorida
Current assessment$1,383,185
What the comparable sales support$1,192,627
Estimated over-assessment$190,558 · 13.8%
Comparable basis$265/SF
Estimated tax saved / year$3,411

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
$154$1555,180 SF2007
$174$1704,099 SF2006
$238$2395,780 SF2005
$242$2445,776 SF2005
$269$2634,080 SF2006
$273$2674,099 SF2006
$274$2674,739 SF2003
$295$2884,100 SF2006

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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