Over-assessed vs. comparables

1000 Palm Trl

Delray Beach, 33483 · Palm Beach County, Florida · multifamily property · 14,644 sq ft · Fla. Stat. s.193.011(8)

$26,921estimated 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

Palm Beach public rollFlorida
Current assessment$4,135,327
What the comparable sales support$2,647,953
Estimated over-assessment$1,487,374 · 36.0%
Comparable basis$213/SF
Estimated tax saved / year$26,921

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
$63$6214,228 SF1969
$79$8011,420 SF1979
$149$15918,596 SF1979
$198$19210,464 SF1971
$238$23413,050 SF1971
$257$24216,972 SF1957
$340$3127,728 SF1965
$386$3608,560 SF1967

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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