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Ledgerline clients Gulfstream Development Partners

Property tax: Bayshore Medical Office (62,000 sq ft)

C corporation · FL · tax year 2026 · Tampa, FL · contact Peter Lindqvist, VP Finance

FL · tax year 2027 · annual property tax saved if the appeal succeeds

$134,506

Savings only where the indicated value is below the assessor's value. We never recommend an appeal when it is not.

Assessed value

$24.9M

Indicated value

$17.3M

Tax rate

1.78%

Appeal deadline

317days left

File by Sep 8, 2027. Rule from the state facts file.

Valuation notice date is the expected date (prior-year pattern). Confirm on the notice. weekend/holiday roll-forward and county-specific dates not modeled: confirm on the notice

67 days Next lien date Jan 1, 2027: photograph and document construction status and condition as of this date (draw inspections, co dates).

Assessed vs indicated value

primary approach for commercial: income

Value by approach
  • Assessor's value
    $24,850,000
  • Cost approach
    $21,668,960
  • Income approach
    $17,293,466
  • Sales comparison
    $20,650,000
  • Reconciled (indicated)
    range $17,293,466 – $21,668,960
    $17,293,466

Cost

Replacement cost (real property)
$19,950,000
Physical
$399,000
Functional
$0
External
$782,040
Value
$21,668,960

Non-real costs (cost seg 1245 items, FF&E) removed from the cost.

Income

Effective gross income
$2,281,600
Net operating income
$1,561,600
Loaded cap rate
9.03%
Value
$17,293,466

Sales comparison

  • Gulf Breeze MOB$20,250,000
  • Palm Harbor Medical$20,800,000
  • Tampa Bay Clinic$20,900,000

Value$20,650,000

Evidence checklist

7 of 14 · adequate

  • Have: Valuation notice (assessed value, notice date, deadline)all · library property_tax_reduction_study.yaml inputs_needed.parcel_list_with_notices
  • Missing: Independent appraisal or taxpayer's stated estimate of market valueall · library property_tax_reduction_study.yaml audit.defense_file
  • Have: Job cost ledger / cost certification for the improvementscost · calc-data/property_tax/methods.json approaches.cost_approach.builder_angle
  • Missing: Costs are arm's length and incurred near the lien date (no related-party pricing)cost · library property_tax_reduction_study.yaml red_flags
  • Missing: Land/lot sales supporting the as-is land valuecost · calc-data/property_tax/methods.json approaches.cost_approach.steps[0]
  • Missing: Support for physical, functional and external obsolescence (lease-up, absorption, superadequacy)cost · calc-data/property_tax/methods.json obsolescence_study
  • Have: Cost seg extract removing personal property and non-real costscost · calc-data/property_tax/methods.json personal_vs_real_segregation
  • Have: Three or more arm's-length sales near the lien datesales · calc-data/property_tax/methods.json approaches.sales_comparison.steps
  • Have: Adjustment grid (time, location, size, condition, finish, lot)sales · calc-data/property_tax/methods.json approaches.sales_comparison.steps[1]
  • Missing: Sale contract within 6 months of the lien date (Utah 59-2-1004(6) qualifying contract)sales · calc-data/property_tax/methods.json approaches.sales_comparison.builder_angle
  • Have: Rent roll as of the lien dateincome · library property_tax_reduction_study.yaml inputs_needed.rent_roll_and_operating_statements
  • Have: Operating statements (market expenses; no depreciation or debt service)income · calc-data/property_tax/methods.json approaches.income_approach.steps[1]
  • Missing: Market rent and vacancy evidenceincome · calc-data/property_tax/methods.json approaches.income_approach.steps[0]
  • Missing: Cap rate support (market extraction or survey)income · calc-data/property_tax/methods.json approaches.income_approach.steps[2]

Fee comparison

shown net to you; $0 fee when savings are $0

OptionFeeNet to you
Gross savings$134,506
Contingency$33,627$100,880
Fixed fee$1,950$132,556

Break-even savings between the two: $7,800. Better here: fixed.

For the CPA or property tax professional

  • · weekend/holiday roll-forward and county-specific dates not modeled: confirm on the notice
  • · day count excludes the notice day (notice + 25); confirm the state's computation-of-time rule

Research tool for CPA and property tax professional review; not tax advice.