Over-assessed vs. comparables

6600 N Ocean Blvd 1

Ocean Ridge, 33435 · Palm Beach County, Florida · multifamily property · 11,226 sq ft · Fla. Stat. s.193.011(8)

$21,053estimated 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$4,199,675
What the comparable sales support$3,036,515
Estimated over-assessment$1,163,160 · 27.7%
Comparable basis$318/SF
Estimated tax saved / year$21,053

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
$63$6714,228 SF1969
$198$20610,464 SF1971
$238$25213,050 SF1971
$329$3025,768 SF1955
$340$3347,728 SF1965
$386$3868,560 SF1967
$386$41714,644 SF1972
$550$5169,368 SF1953

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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