Over-assessed vs. comparables

445 E Palmetto Park Rd

Boca Raton, 33432 · Palm Beach County, Florida · commercial property · 2,881 sq ft · Fla. Stat. s.193.011(8)

$10,628estimated 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$1,709,120
What the comparable sales support$1,121,946
Estimated over-assessment$587,174 · 34.4%
Comparable basis$458/SF
Estimated tax saved / year$10,628

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
$132$1312,656 SF1974
$242$2422,895 SF1973
$294$2882,720 SF1970
$434$4512,992 SF1980
$454$4533,557 SF1968
$461$4633,599 SF1969
$504$5262,934 SF1981
$529$5412,696 SF1979

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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