Possible over-assessment

300 Banyan Blvd

West Palm Beach, 33401 · Palm Beach County, Florida · commercial property · 97,510 sq ft · Fla. Stat. s.193.011(8)

$138,647estimated 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$41,294,719
What the comparable sales support$33,634,688
Estimated over-assessment$7,660,031 · 18.6%
Comparable basis$406/SF
Estimated tax saved / year$138,647

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
$121$122144,679 SF2017
$303$26812,320 SF2018
$322$27847,532 SF2006
$400$34811,529 SF2015
$428$37970,730 SF2006
$473$43250,717 SF2016
$627$5549,725 SF2018
$856$7693,250 SF2023

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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