Over-assessed vs. comparables

3945 Fiscal Ct

Riviera Beach, 33404 · Palm Beach County, Florida · industrial property · 13,736 sq ft · Fla. Stat. s.193.011(8)

$28,577estimated 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$4,438,924
What the comparable sales support$2,860,097
Estimated over-assessment$1,578,827 · 35.6%
Comparable basis$245/SF
Estimated tax saved / year$28,577

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 5 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
$198$19614,170 SF1988
$243$22911,828 SF1981
$234$24512,194 SF2002
$267$25312,719 SF1981
$242$25512,392 SF2003

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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