Over-assessed vs. comparables

618 S Olive Ave

West Palm Beach, 33401 · Palm Beach County, Florida · commercial property · 1,296 sq ft · Fla. Stat. s.193.011(8)

$7,203estimated 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$1,119,927
What the comparable sales support$721,986
Estimated over-assessment$397,941 · 35.5%
Comparable basis$655/SF
Estimated tax saved / year$7,203

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
$251$2591,792 SF1946
$332$3411,430 SF1950
$344$3441,163 SF1949
$373$3961,368 SF1958
$556$547900 SF1950
$727$7641,376 SF1956
$815$8581,780 SF1950
$1093$10851,080 SF1949

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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