Over-assessed vs. comparables

2000 Pga Blvd 3100

Palm Beach Gardens, 33408 · Palm Beach County, Florida · commercial property · 21,490 sq ft · Fla. Stat. s.193.011(8)

$16,100estimated 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$5,464,127
What the comparable sales support$4,574,646
Estimated over-assessment$889,481 · 16.3%
Comparable basis$250/SF
Estimated tax saved / year$16,100

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
$163$15422,356 SF1977
$155$15625,819 SF1987
$198$19521,461 SF1986
$227$23728,655 SF1991
$228$23921,913 SF1998
$265$26223,400 SF1985
$263$27522,834 SF1997
$315$30118,400 SF1983

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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