Over-assessed vs. comparables

2272 Okeechobee Blvd

West Palm Beach, 33409 · Palm Beach County, Florida · commercial property · 3,786 sq ft · Fla. Stat. s.193.011(8)

$11,016estimated 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$1,628,550
What the comparable sales support$1,019,941
Estimated over-assessment$608,609 · 37.4%
Comparable basis$317/SF
Estimated tax saved / year$11,016

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
$40$393,515 SF1962
$75$754,681 SF1963
$123$1204,049 SF1960
$223$2153,136 SF1963
$294$2902,720 SF1970
$325$3443,842 SF1978
$454$4543,557 SF1968
$467$4573,748 SF1963

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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