Over-assessed vs. comparables

5401 S Congress Ave 102

Atlantis, 33462 · Palm Beach County, Florida · commercial property · 42,259 sq ft · Fla. Stat. s.193.011(8)

$34,375estimated 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$10,360,896
What the comparable sales support$8,461,721
Estimated over-assessment$1,899,175 · 18.3%
Comparable basis$236/SF
Estimated tax saved / year$34,375

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
$198$18743,969 SF1989
$203$20754,068 SF1999
$227$20928,655 SF1991
$228$21421,913 SF1998
$230$22521,732 SF2007
$263$24622,834 SF1997
$296$29349,433 SF1996
$322$33447,532 SF2006

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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