Possible over-assessment

225 Clematis St

West Palm Beach, 33401 · Palm Beach County, Florida · commercial property · 50,314 sq ft · Fla. Stat. s.193.011(8)

$18,756estimated 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$13,597,794
What the comparable sales support$12,561,556
Estimated over-assessment$1,036,238 · 7.6%
Comparable basis$294/SF
Estimated tax saved / year$18,756

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
$251$2261,792 SF1946
$201$22750,037 SF1973
$270$2452,038 SF1948
$280$2583,610 SF1950
$253$27253,394 SF1961
$347$3153,742 SF1947
$431$4004,875 SF1951
$518$4772,893 SF1950

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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