Possible over-assessment

1301 Alpha St

West Palm Beach, 33401 · Palm Beach County, Florida · multifamily property · 23,478 sq ft · Fla. Stat. s.193.011(8)

$51,421estimated overpaid in property tax / year

The public records suggest this property may be over-assessed, but the comparison is wide enough that we verify it by hand — free, with no obligation — before saying you have a case.

What the public records show

Palm Beach public rollFlorida
Current assessment$6,214,518
What the comparable sales support$3,373,587
Estimated over-assessment$2,840,931 · 45.7%
Comparable basis$169/SF
Estimated tax saved / year$51,421

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$4514,228 SF1969
$79$5911,420 SF1979
$149$11518,596 SF1979
$198$14010,464 SF1971
$257$16916,972 SF1957
$238$16913,050 SF1971
$262$24712,480 SF2020
$237$26252,830 SF2019

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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