Over-assessed vs. comparables

2700 S Military Trl

Palm Springs, 33415 · Palm Beach County, Florida · commercial property · 4,937 sq ft · Fla. Stat. s.193.011(8)

$25,843estimated 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$4,303,624
What the comparable sales support$2,875,814
Estimated over-assessment$1,427,810 · 33.2%
Comparable basis$685/SF
Estimated tax saved / year$25,843

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
$217$2043,288 SF2012
$263$2556,456 SF2006
$274$2677,028 SF2005
$384$3554,171 SF2006
$611$5663,514 SF2009
$890$8043,257 SF2005
$856$8473,250 SF2023
$1058$9792,670 SF2012

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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