Over-assessed vs. comparables

1201 Thorpe Rd

Orlando, 32824 · Orange County, Florida · industrial property · 8,385 sq ft · Fla. Stat. s.193.011(8)

$17,389estimated 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$2,449,048
What the comparable sales support$1,477,587
Estimated over-assessment$971,461 · 39.7%
Comparable basis$196/SF
Estimated tax saved / year$17,389

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 5 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
$177$1779,900 SF1988
$170$18110,000 SF2000
$201$1967,600 SF1988
$295$28410,522 SF1979
$479$51711,055 SF2000

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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