Over-assessed vs. comparables

4000 N Forsyth Rd

Winter Park, 32792 · Orange County, Florida · industrial property · 3,321 sq ft · Fla. Stat. s.193.011(8)

$8,102estimated 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$1,323,931
What the comparable sales support$871,313
Estimated over-assessment$452,618 · 34.2%
Comparable basis$292/SF
Estimated tax saved / year$8,102

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
$214$2044,080 SF1983
$232$2433,875 SF2003
$255$2572,945 SF2001
$257$2713,635 SF2006
$269$2782,975 SF2006
$308$3052,400 SF2001
$291$3083,778 SF2006
$303$3193,635 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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