Over-assessed vs. comparables

10140 Northlake Blvd

West Palm Beach, 33412 · Palm Beach County, Florida · commercial property · 3,000 sq ft · Fla. Stat. s.193.011(8)

$10,449estimated 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$1,816,375
What the comparable sales support$1,239,093
Estimated over-assessment$577,282 · 31.8%
Comparable basis$486/SF
Estimated tax saved / year$10,449

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
$227$2123,060 SF1985
$295$2813,185 SF1988
$355$3673,864 SF2000
$396$4093,864 SF2000
$459$4702,982 SF2004
$519$5023,568 SF1989
$611$6523,514 SF2009
$764$7433,076 SF1993

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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