Over-assessed vs. comparables

38 E Atlantic Ave

Delray Beach, 33444 · Palm Beach County, Florida · commercial property · 1,149 sq ft · Fla. Stat. s.193.011(8)

$8,002estimated 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$1,378,248
What the comparable sales support$936,130
Estimated over-assessment$442,118 · 32.1%
Comparable basis$959/SF
Estimated tax saved / year$8,002

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
$42$38704 SF1930
$332$3541,430 SF1950
$344$3561,163 SF1949
$556$565900 SF1950
$727$7931,376 SF1956
$1093$11241,080 SF1949
$1212$12271,464 SF1939
$1297$1362887 SF1957

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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