Over-assessed vs. comparables

2840 NW 2nd Ave

Boca Raton, 33431 · Palm Beach County, Florida · industrial property · 17,454 sq ft · Fla. Stat. s.193.011(8)

$10,868estimated 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$3,625,724
What the comparable sales support$3,025,278
Estimated over-assessment$600,446 · 16.6%
Comparable basis$204/SF
Estimated tax saved / year$10,868

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
$51$4911,360 SF1975
$81$8524,888 SF1976
$181$18420,400 SF1974
$186$19617,715 SF1985
$198$20113,154 SF1983
$195$20719,270 SF1986
$210$22322,200 SF1982
$267$26812,719 SF1981

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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