Over-assessed vs. comparables

365 NE 3rd St

Delray Beach, 33483 · Palm Beach County, Florida · industrial property · 3,600 sq ft · Fla. Stat. s.193.011(8)

$4,652estimated 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$1,276,820
What the comparable sales support$1,019,802
Estimated over-assessment$257,018 · 20.1%
Comparable basis$333/SF
Estimated tax saved / year$4,652

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
$47$443,860 SF1962
$253$2322,970 SF1963
$273$2883,750 SF1986
$320$3143,840 SF1971
$320$3284,840 SF1974
$343$3393,150 SF1976
$417$4013,840 SF1967
$453$4873,750 SF1990

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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