Over-assessed vs. comparables

1301 W 15th St A

Riviera Beach, 33404 · Palm Beach County, Florida · industrial property · 28,550 sq ft · Fla. Stat. s.193.011(8)

$16,257estimated 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$5,157,335
What the comparable sales support$4,259,184
Estimated over-assessment$898,151 · 17.4%
Comparable basis$176/SF
Estimated tax saved / year$16,257

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 6 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
$172$16527,900 SF1979
$169$16624,800 SF1985
$184$17529,936 SF1976
$174$17622,377 SF1992
$195$18819,270 SF1986
$176$18934,610 SF1997

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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