Over-assessed vs. comparables

125 Venus St

Jupiter, 33458 · Palm Beach County, Florida · commercial property · 1,200 sq ft · Fla. Stat. s.193.011(8)

$4,114estimated 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$601,555
What the comparable sales support$374,243
Estimated over-assessment$227,312 · 37.8%
Comparable basis$367/SF
Estimated tax saved / year$4,114

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
$167$1661,196 SF1962
$224$2301,440 SF1965
$333$3471,500 SF1967
$355$3561,550 SF1959
$373$3671,368 SF1958
$371$3671,200 SF1962
$585$5781,170 SF1962
$727$7081,376 SF1956

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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