Over-assessed vs. comparables

2101 45th St

West Palm Beach, 33407 · Palm Beach County, Florida · commercial property · 53,138 sq ft · Fla. Stat. s.193.011(8)

$85,400estimated 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$13,897,487
What the comparable sales support$9,179,237
Estimated over-assessment$4,718,250 · 34.0%
Comparable basis$203/SF
Estimated tax saved / year$85,400

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
$143$14878,650 SF1987
$155$15573,802 SF1983
$171$17572,092 SF1987
$184$18475,056 SF1982
$198$19343,969 SF1989
$203$21354,068 SF1999
$227$21728,655 SF1991
$296$30249,433 SF1996

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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