Over-assessed vs. comparables

236 S Us Highway 1

Tequesta, 33469 · Palm Beach County, Florida · commercial property · 3,544 sq ft · Fla. Stat. s.193.011(8)

$5,922estimated 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$1,655,657
What the comparable sales support$1,328,500
Estimated over-assessment$327,157 · 19.8%
Comparable basis$441/SF
Estimated tax saved / year$5,922

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
$132$1272,656 SF1974
$242$2342,895 SF1973
$325$3313,842 SF1978
$454$4363,557 SF1968
$434$4362,992 SF1980
$461$4463,599 SF1969
$504$5082,934 SF1981
$615$5903,656 SF1967

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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