Over-assessed vs. comparables

3010 N Military Trl

Boca Raton, 33431 · Palm Beach County, Florida · commercial property · 29,988 sq ft · Fla. Stat. s.193.011(8)

$35,868estimated 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$8,153,024
What the comparable sales support$6,171,365
Estimated over-assessment$1,981,659 · 24.3%
Comparable basis$242/SF
Estimated tax saved / year$35,868

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
$155$14325,819 SF1987
$227$21628,655 SF1991
$228$22021,913 SF1998
$244$22816,004 SF1996
$230$23221,732 SF2007
$263$25322,834 SF1997
$295$28418,640 SF2000
$333$31815,072 SF2001

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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