Over-assessed vs. comparables

3450 N Forsyth Rd

Winter Park, 32792 · Orange County, Florida · industrial property · 18,576 sq ft · Fla. Stat. s.193.011(8)

$26,168estimated 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$4,123,739
What the comparable sales support$2,661,862
Estimated over-assessment$1,461,877 · 35.4%
Comparable basis$159/SF
Estimated tax saved / year$26,168

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
$100$9522,746 SF1980
$117$12519,920 SF2007
$165$15918,140 SF1987
$186$17112,388 SF1985
$218$22414,220 SF2005

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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