Over-assessed vs. comparables

20642 S State Road 7

Boca Raton, 33498 · Palm Beach County, Florida · commercial property · 9,849 sq ft · Fla. Stat. s.193.011(8)

$9,436estimated 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$3,387,688
What the comparable sales support$2,866,386
Estimated over-assessment$521,302 · 15.4%
Comparable basis$342/SF
Estimated tax saved / year$9,436

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
$263$2566,456 SF2006
$274$2667,028 SF2005
$297$2899,164 SF2001
$280$29214,058 SF2005
$318$3229,288 SF2009
$383$3638,627 SF1997
$450$4278,050 SF1998
$462$4326,500 SF1999

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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