What does the property appraiser do?

The property appraiser is responsible for identifying, locating, and fairly valuing all property, both real and personal, within the county for tax purposes. The "market" value of real property is based on the current real estate market. Estimating the "market" value of your property means discovering the price most people would pay for your property in its current condition. What is important to remember is that the property appraiser does not create the value. People establish the value by buying and selling real estate in the market place. The property appraiser has the legal responsibility to study those transactions and appraise your property accordingly. The property appraiser also tracks ownership changes; maintains maps of parcel boundaries; keeps descriptions of buildings and property characteristics up to date; accepts and approves applications from individuals eligible for exemptions and other forms of property tax relief; and most importantly, analyzes trends in sales prices, construction costs, and rents to best estimate the value of all assessable property.

Does the property appraiser levy or collect taxes?

No. The property appraiser assesses all property in the county and is neither a taxing authority nor a tax collector. The property appraiser has nothing to do with the amount of taxes levied or collected.

Three separate government entities each having unique and distinct roles in producing your November tax bill. First, the property appraiser annually appraises all property in your county at the market value as of January 1. Next, each taxing authority within the county sets their own millage rate based on the amount of tax dollars necessary to fund their annual budget. Finally, the tax collector takes the amount of taxes due in order to bill and collect all taxes levied within the county.

How is property appraised?

At least once every five years, the property appraiser or a staff appraiser will visit and inspect each property. However, individual property values may be adjusted between visits in light of sales activity or other factors affecting real estate values in your neighborhood. Sales of similar properties are strong indicators of value in the real estate market.

To estimate the value of a property, the property appraiser must identify the properties that have sold, their sale prices and the terms and conditions of the each sale. Each transaction must be studied to make sure that it is an arms-length transaction.

An arm's length transaction is a sale involving a willing seller and a willing buyer without any undue pressure or special incentives (such as family relationships). An arm's length transaction also means that the property was on the market for neither an excessive nor short period of time.

Once this is determined, the property appraiser can base the value of a property on sales of comparable properties. That is why property appraisers maintain an accurate data base of real estate information, and this is the sale comparison approach to value.

The Florida Constitution has been amended effective January 1, 1995 to limit any annual increase in the assessed value of residential property with a homestead exemption to 3 percent or the rate of inflation, whichever is lower. This limitation does not include any change, addition or improvement to a homestead (excluding normal maintenance or substantially equivalent replacement). During subsequent years, any improvements will fall under the Constitutional limitation.

Two other methods are used to appraise property - the cost approach and the income approach. The cost approach is based on how much it would cost today to build an almost identical structure on the parcel. If your property is not new, the appraiser must also determine how much the building has lost value over time. The appraiser must also determine the value of the land itself - without buildings or any improvements. The income approach (usually performed on commercial property) requires a study of how much revenue your property would produce if it were rented as an apartment house, a store, an office building and so on. The appraiser must consider operating expenses, taxes, insurance, maintenance costs, and the return or profit most people would expect on the type of property you own.

What is market value?

Florida Law requires that the just value of all property be determined each year. The Supreme Court of Florida has declared "just value" to be legally synonymous to "full cash value" and "fair market value." The fair market value of your property is the amount for which it could sell on the open market. The property appraiser analyzes these market transactions annually to determine fair market value as of January 1.

Why does my property value change every year?

State law requires that the Property Appraiser determines the value of all properties as of the legal assessment date of January 1 each year. These values are based on market information such as sales and income information.

Can I get a tax exemption?

In addition to determining values, the property appraiser accepts applications for and administers property tax exemptions. Several types of exemptions are available.

The type of exemption benefiting the largest number of property owners is the HOMESTEAD EXEMPTION. If you own property which you use as your primary residence as of January 1, you may apply for homestead exemption. This will reduce the taxable value of your home by $25,000, resulting in substantial savings on your property taxes.

Any new exemption or change in exemption status should be filed as soon as possible, but no later than March 1.

Besides Homestead, what other exemptions are available under law?

Widow/ Widowers Exemption ($5000)- To file for Widow or Widower's Exemption you must be a widow or widower prior to January 1st of the tax year and bring proof of your spouse's death. (Divorced persons do not qualify for this exemption.) Disability Exemption ($5000)- In addition to proof of Florida residency, you must provide one of the following: Proof of total and permanent disability from two [2] professional unrelated licensed Florida physicians, the U.S. Veteran's Administration; Proof of 10% or more war-time disability from Veteran's Administration; Present proof of legal blindness. Total exemption from ad valorem taxation on homestead property for totally and permanently disabled-

Section 196.101, F.S., provides that property owners qualifying for the homestead exemption on January 1, who are quadriplegic, paraplegic, hemiplegic, or other totally and permanently disabled persons, who must use a wheel chair for mobility, or are legally blind and produce certification of that fact from two [2] professionally unrelated licensed Florida physicians, or the U.S. Veteran's Administration, shall be exempt from ad valorem taxation. Except for quadriplegics & Veterans, there is also a gross income limitation for this exemption, governing all persons residing upon the homestead, which is adjusted annually.

Section 196.081, F.S. , provides that property owners qualifying for the homestead exemption on January 1, who are veterans honorably discharged with a service connected total and permanent disability, shall be exempt from ad valorem taxation. Confirmation of the disability from the U.S. Veteran's Administration is required for this exemption. A surviving spouse could enjoy the benefit of this exemption if the veteran was a permanent resident of Florida on January 1 of the year he or she died.

When will I know the amount of my tax bill?

Each August, the property appraiser sends a Truth in Millage (TRIM) Notice to all property owners as required by law. This notice is very important -- look for it in the mail! You'll recognize it by prominent lettering, "DO NOT PAY - This is not a bill."

The TRIM Notice tells you the taxable value of your property. Taxable value is the just value less any exemptions.

The TRIM Notice also gives you information on proposed millage rates and taxes as estimated by your community taxing authorities. It also tells you when and where these authorities will hold public meetings to discuss tentative budgets to set your millage tax rates.

Fees not related to your property value may also appear on your TRIM Notice for garbage collection, roads, lighting and other government services. These fees are set by your taxing authority and are not affected by any change in the value of your house or property.

What if I think the appraised value of my property is too high?

If you think the taxable value shown on your TRIM Notice is not correct, you are encouraged to contact your property appraiser's office to speak with an appraiser. The appraiser can show you the information used to determine your property's value.

What is an "AG" classification?

An agricultural classification is the designation of land by the property appraiser, pursuant to F.S. 193.461, in which the assessment is based on agricultural use value.

To qualify for Agricultural classification, a return must be filed with the property appraiser between January 1 and March 1 of the tax year. Only lands which are used for bona fide agricultural purposes shall be classified agricultural.

"Bona fide agricultural purposes" means good faith commercial agricultural use of the land. The property appraiser, prior to classifying such lands, may require the taxpayer or the taxpayer's representative to furnish such information as may reasonably be required to establish such lands are actually used for a bona fide agricultural purpose.

The property appraiser may deny agricultural classification to the following lands:

Lands which are not being used for or diverted from agricultural use; Land that has been zoned non-agricultural at the request of the owner; Land on which a sub-division plat is recorded; Land which is purchased for a price three or more times the agricultural appraisal placed on the land.

Who can I contact to ask questions directly regarding my market value?

Based on where you are located, you may be able to find the contact information for you local property appraiser here.

What are the requirements for a homestead exemption?

All persons seeking homestead exemption must complete an original application (Form DR-501). The application must be signed and filed in person.

You will also need to bring a recorded deed or tax bill in your name. Social Security numbers for all owners. The following information to establish proof of residency for all owners who occupy the property must be presented in-person at our office: Florida driver's license, if you drive or if a non-driver, a declaration of domicile recorded prior to January 1; Florida auto tag registration, if you drive Florida voter registration card, if you are registered to vote.

If you do not possess these items, please call the property appraiser for further information

Where can I file?

You can file at the property appraiser's office.

When do I apply?

The normal filing time for homestead exemption begins on January 1 and lasts through March 1. All exemption applications for that year must be filed by March 1. You may pre-file for the following year from March 2 through December 31.

Failure to apply on or before March 1, according to law, is a waiver of the exemption privilege for that year.

Do I need to reapply every year?

No, you do not. The Property Appraiser mails out in January an “Automatic Residential Renewal Receipt” to every homesteaded property owner. If you do not have any changes, you can keep the receipt as proof that you are eligible for the automatic renewal. However, the homeowner has a responsibility under the law to notify the Property Appraiser if the ownership status of the property has changed or if it is no longer the permanent residence of the owner.

Do I have to be a citizen to qualify?

Citizenship is not required to file for homestead exemption. An applicant who is not a U.S. citizen must present a resident alien card (green card) when they apply.

What if the property is in trust?

In these cases, it is necessary for the applicant to furnish this office with a copy of the trust agreement. Florida law specifies those situations under which the resident may obtain homestead exemption. The Florida Constitution requires that the homestead claimant have legal title or beneficial title in equity to the property.

Can I get homestead exemption on a mobile home?

Yes, you may if you own the land on which the mobile home is located. When applying, you must bring in the title or registration to the mobile home.

Is there any appeal if I miss the deadline for filing?

Yes. You must file an appeal with the Value Adjustment Board and a late application for homestead exemption at the property appraiser's office in person. The deadline for filing is set by law -- on or before the 25th day following the mailing of the notice of proposed property taxes (T.R.I.M. Notice). This date usually falls in early September. You may call your property appraiser's office to confirm the deadline date.

Approval or denial of the late application is determined by the Value Adjustment Board. This panel will hear your reasons for not filing in a timely manner and make a determination whether or not your application can be approved for that tax year.

How do I cancel an exemption I no longer qualify for?

Florida Law prescribes that is the duty of the owner of any property to notify the Property Appraiser promptly, whenever the use of the property or the status or condition of the owner changes, so as to change the exempt status of the property. If any owner fails to so notify the Property Appraiser and the Property Appraiser determines that for any year within the prior ten years the owner was not entitled to receive such exemption, the property shall be subject to the taxes exempted as a result of such failure, plus 15 percent interest per annum, and a penalty of 50 percent of the taxes exempted. Reference Sec.196.131 and 196.161.

Can I rent out my homestead and keep the exemption on it?

Generally, the answer is no. Section 196.061, Florida Statutes, says that rental of a dwelling previously claimed to be a homestead for tax purposes "shall constitute the abandonment of said dwelling as a homestead." If the rental begins after January 1 of a year (regardless of the shortness of the rental period) and there is a rental covering ANY part of the next consecutive year, that is an abandonment of the homestead under the law as of the second year. A seasonal rental (February-March) in two consecutive years would disqualify the property for homestead. Likewise, a one-time rental from December-February would also disqualify the property as it would involve portions of two consecutive years.

The only individuals allowed under the law to rent out a homesteaded property while retaining the exemption are active duty military personnel. Simply provide the Office of the Property Appraiser with a copy of your military orders, and they will keep your exemption intact. Note: State law formerly extended these rights to other federal employees (FBI, DEA, civilian DOD, congressional employees, etc.) on duty assignments outside of Florida -- but that law was changed in the late 1960s during the Vietnam War to limit this rental option only to active duty military. The Legislature felt this was appropriate because active duty military personnel do not have the option of quitting the job and staying at home -- versus all others who have the option of resigning their positions.

Does my existing homestead exemption move with me to my new house?

HOMESTEADS DO NOT TRANSFER. A homestead exemption does NOT move with an owner from place to place. You MUST file for a new homestead exemption if you move. However, with Florida's "portability" law, homesteaded owners may move their Save Our Homes benefit from one homestead to the next.

Also, if the former owners of your new home had Homestead on the property, their old Homestead will automatically expire at the end of the same year you purchased the property. But, if the former owner applies for portability onto another Florida property this year, the homestead may come off in the year in which you purchased it. Additionally, please note that an adult child who inherits a home from a deceased parent does not inherit the Homestead.

How do you assess new additions to previously Homesteaded properties?

All approaches to value are considered per F.S. 193.011. Primary weight is given to the Market Approach which considers the sale of homes which are most comparable to the newly improved property. While the Cost Approach is considered, Florida law requires us to value properties at their Just/Market value, not an individual owner’s material cost to build. Those direct/hard costs generally do not include land, indirect/soft costs (permit fees, architectural plans, etc.) or entrepreneurial profit and do not by themselves represent Just/Market value.

Thus, if the fair market value of your addition is $100,000, you would see no more than $100,000 added to your pre-existing Save Our Homes value. In the future, the combination of your pre-existing Save Our Homes value plus the fair market value of the addition would be your new Save Our Homes base value (subject to the 3% increase cap).

How is the $50,000 exemption applied?

The Florida Constitution was amended by the voters in 2008 to increase the Homestead exemption to $50,000. This amendment, however, is a bit complicated for a few reasons:

1. The first $25,000 of the exemption is applied by all taxing authorities to first $25,000 of your property's assessed value.
2. The second $25,000 exemption does NOT apply to school portion of your tax bill. The school budget -- at roughly 37% of the entire property tax bill -- makes up the single largest portion of your tax bill.
3. The second $25,000 of the exemption only applies to the portion of assessed value between $50,000 - 75,000. This means you will not receive the full benefit of the second $25,000 if your property is assessed at less than $75,000. And -- if your property is assessed at less than $50,000 -- you will not receive any additional savings from this second $25,000 exemption.

How much will I save with a homestead exemption?

An eligible property owner in 2021 saved anywhere from $656 to $1,041 (depending upon the millage rates in your city) in taxes due to the Homestead exemption. In 2021, the average homeowner with Homestead also saved an additional $2,178 in taxes because of the Save Our Homes benefit. Additionally -- once the real estate market rebounds -- all Homesteaded properties will benefit from the "Save Our Homes" 3% tax assessment cap that automatically comes with the Homestead exemption (starting in the year after you first obtain homestead). The SOH cap limits assessment increases during years of rising market values.

My market value dropped so why did my assessment go up?

Under Florida law, a homestead "recapture" rule may cause some taxable values to rise even when the overall market value dropped from last year. If you are Homesteaded and your "Save Our Homes" (SOH) value is less than the market value as of January 1, Florida Administrative Code Rule 12D-8.0062(5) explicitly orders our office to increase your overall assessed value each year (up to the 3% annual cap level) until it eventually reaches the same amount as the market value. The Department of Revenue set this year's SOH rate at 3.0%. Unfortunately some homeowners experienced the recapture effects of this law in 2019, even though their overall market values fell. Those impacted by recapture are mostly owners who either purchased and homesteaded their properties before 2001 or newer purchasers who recently moved portability savings to a new property. Florida voters in 2012 rejected a proposed constitutional amendment to abolish the "recapture" rule.

HOMESTEAD EXEMPTION - What documents do I need to file for a Homestead exemption?

FOR ALL APPLICANTS:

• Florida Driver’s License (or Florida I.D. Card is acceptable for non-drivers only); AND
• Proof of county Voter Registration OR a Declaration of Domicile. FOR PERMANENT RESIDENT ALIENS: The above items, PLUS ...
• Permanent Resident "Green Card," or proof of asylum/parole refugee status, or INS I-485 letter showing that application to convert to permanent resident status is approved. NOTE: You must surrender your out-of-state license in favor of a Florida license in order to qualify for Homestead.

What is "PRUCOL"?

PRUCOL ("Permanent Residence Under Color of Law") is a fancy sounding term created by the federal courts in the Holley v. Lavine case in 1978. As the court explained, the basic concept means "that an alien was residing in the United States with the knowledge and permission, express or implied, of the [USCIS] and that the [USCIS] did not contemplate enforcing his or her departure." Under Florida law, only U.S. citizens, permanent resident aliens, or someone holding PRUCOL status is eligible for a Homestead exemption. A person in the U.S. with asylum or parole refugee status is considered PRUCOL. If you have completed the I-485 status adjustment application process to become a U.S. permanent resident, please contact us to review your documentation to see if you may also be eligible for PRUCOL status.

A person in the US under an E-, F-, H-, J-, L-, M-, N-, O-, P-, TC- or R-class visa is NOT eligible for Homestead, pursuant to Rule 12D-7.007(3), Florida Administrative Code, as they are all deemed "temporary" visas. A person in the U.S. under "Temporary Protected Status" (TPS) is also not eligible. This is true under Florida law no matter how long you have owned your home and lived/worked in Florida -- and regardless of how many times you are legally able to renew your visa.

What is a Declaration of Domicile, do I need one, and where do I get a copy?

A Declaration of Domicile is a sworn statement indicating your place of residence. Contact your local Property Appraisers office for information on how to obtain one.

Will I lose my homestead exemption if I move out to substantially remodel or demo/rebuild my home? What if I buy it from a Homesteaded seller and then tear it down?

If you completely demolish your home, you are at risk of losing your homestead exemption if you do not notify our office of your intent to rebuild and maintain the property as your permanent residence.

If you substantially renovate your property - removing the roof, windows, and doors but leaving up some wall(s) - you are at risk of losing your homestead exemption if you do not notify our office of your intent to rebuild and maintain the property as your permanent residence.

Your Homestead exemption will continue while your project proceeds, but only if you contact your local Property Appraisers office and complete a notification form.

If you demolish or are in the process of substantially renovating your home, you may see a reduced value ($10 in the case of a demo) in the Building/Improvement field on our website.

Once completed, the new/remodeled property will be re-assessed and a new Just Value and Save Our Homes Value will be established. If you purchase a homesteaded property and demolish the home, you will inherit the seller’s exemptions (if any) for the remainder of the year. The exemptions and Save Our Homes protection, if any, will expire at the end of the year.

Will I lose my exemptions if I add people to my title as joint tenants with rights of survivorship?

Your Homestead exemption will stay intact if you transfer title of the homestead property to yourself plus another/others as joint tenants with rights of survivorship. This will also protect your existing Save Our Homes value.

Note: After your death, your exemptions will also expire, the property will be reassessed at market rate the next year. However, IF your co-owner(s) also filed for homestead on the property during your lifetime, the existing Save Our Homes value will be continue riding with the surviving homestead interest. Important: this presumes they moved onto the property, filed for and obtained Homestead during your lifetime.

Will I lose my exemptions if I place my home in a life estate for me, and with a remainder to my kids?

Your Homestead exemption will stay intact if you transfer a future interest to your children (or domestic partner, friend or others) but retain a life estate for yourself. This will also protect your existing Save Our Homes value.

Note: After your death (which will automatically end your life estate), your exemptions will also expire, the property will be reassessed at market rate the next year, and your remainder heirs will need to qualify for a new Homestead exemption (if they move onto the property and want to claim Homestead).

Will I lose my exemptions if I place my home into a trust?

So long as you retain sufficient control over the trust (i.e., including the right to live on the property) OR are the named beneficiary of the trust with the right to live upon the property for life (or for at least 98 years), it should not cause any problems for maintaining your Homestead and other exemptions. Once you place the property into a trust, contact your local Property Appraisers office to ensure your exemptions and Save Our Homes value remain intact. Ask your attorney for advice, as creating a proper trust can be complicated.

What is "tangible personal property"?

Tangible personal property (TPP) is defined in Section 192.001, F.S. as "all goods, chattels and other articles of value (but does not include...vehicular items...) capable of manual possession and whose chief value is intrinsic to the article itself." TPP is everything other than real estate that has value by itself and includes such things as furniture, fixtures, tools, machinery, household appliances, signs, equipment, leasehold improvements, supplies, leased equipment and any other equipment used in a business or to earn income. It does not include motor vehicles, mobile homes, inventory, livestock, boats or airplanes.

Who must file a personal property return?

Anyone in possession of assets on January 1 who has either a proprietorship, partnership, corporation or is a self-employed agent or contractor, must file each year. Property owners who lease, lend or rent property must also file a return.

Do I need to file every year, and why do I need to file?

Section 193.052, Florida Statutes, requires that all tangible personal property be reported each year to the Property Appraiser's office. Failure to submit receive a personal property tax return the property appraiser does not relieve you of your obligation to file.

What If I have no assets to report?

Even if you feel you have nothing to report, complete the return form, attach an explanation about why nothing was reported, and file it with the property appraiser's office. Almost all businesses and rental units have some assets to report, even if it is only supplies, rented equipment, or household goods.

If I am no longer in business, should I still file?

Yes. If you were in business on January 1 of the tax year, indicate the date you went out of business, the manner in which you disposed of your business assets and the name and address of the recipient of the assets on your return. If you still have the assets, you must file on these items. Sign and date the return and file it with the property appraiser's office.

What if I have old equipment that has been fully depreciated and written off the books?

Whether fully depreciated in your accounting records or not, all property still in use or in your possession should be reported.

Important Dates To Remember

January 1

• Date of assessment
• Personal property returns due to property appraiser

January 1 to March 1

• Widow, widower and disability applications taken for tangible mobile home improvements (You must reside on the property as of January 1 of the tax year to qualify!)

April 1

• Filing deadline for personal property returns to avoid penalties

August

• Notices of proposed property tax mailed (also called "TRIM" or Truth in Millage)

September

• Deadline to file Value Adjustment Board petition

November

• Tax bills sent by the County Finance Department.

Do I have to report assets that I lease, loan, rent, borrow or are provided as part of the rent?

Yes. There is an area on the return specifically for those assets. Even though the assets are assessed to the owner, they must be listed for informational purposes.

Is there a minimum value that I do not have to report?

No. There is no minimum value. A personal property tax return must be filed on all assets by April 1. However, if the resulting property taxes amount to less than $5.00, you will not receive a tax bill.

What are the deadlines and penalties for filing?

The deadline for filing a timely return is April 1. After that date, state law provides that penalties be applied at 5% per month or portion of a month that the return is late., up to a maximum of 25% penalty when no return is filed.

If I buy or sell an existing business during the year, who is responsible for the taxes?

The new owner is responsible. However, if there is insufficient property to satisfy the taxes due, on January 1 the new owner will be responsible for the difference. Most title companies do not do a search of the tangible assets of a business, therefore, you should consult your broker, attorney or closing agent to insure your proper protection.

What is an "office" or "field review" assessment?

When a tax return is not filed by April 1, the property appraiser is required to place an assessment on the property. This assessment represents an estimate based upon the value of businesses with similar equipment and assets. Being assessed does not alleviate you of your responsibility to file an accurate return.

What if I don't agree with the assessed value that appears on my notice of proposed property tax?

In mid-August, the owner of record will receive a notice of proposed property tax covering TPP. If you disagree with your assessment, call your property appraiser or go to the office to discuss the matter. If you have evidence that the appraised value is more than the actual fair market value of your property, the property appraiser will welcome the opportunity to review all the pertinent facts. If you do not agree after talking, then you may file a petition to have the matter reviewed by the Value Adjustment Board, an independent reviewing authority. Should you not agree with the VAB, then you may file suit to have the assessment reviewed in court.

Helpful Hints And Suggestions

• File the original return from this office as soon as possible before April 1. Be sure to sign and date your return.
• Work with your accountant or C.P.A. to identify any equipment that may have been "physically removed." List those items in the appropriate space on your return.
• If you have an asset listing or depreciation schedule that identifies each item of equipment, attach it to the completed return.
• Do not use vague terms such as "various" or "same as last year."
• It is to your advantage to provide a breakdown of assets since depreciation on each item may vary.
• Please include your estimate of fair market value and the original cost of the item on your return. These are important considerations in determining an accurate assessment.
• Look for additional information concerning filing within the instructional section of the return itself.
• If you sell your business, go out of business, or move to a new location, please inform your property appraiser office promptly. This helps to ensure timely, accurate records.

Do we need to file a TPP return if we are a church, school or non-profit group?

If you are a church, school, or other non-profit entity which may be eligible for a total exemption from TPP and/or real property taxes. Please contact your local Property Appraiser’s office for more information regarding these special exemptions.

How can I obtain a tangible personal property return (DR-405 Form)?

If you did not receive a return in the mail, please click here to download a copy of the DR-405 form. Be sure your Federal Employer Identification Number (FEIN) or Social Security Number, and the Property Appraiser's account number (####-###-X) appear on the return you file. Please contact your Property Appraisers office if you do not know your account number. If you operate under a DBA (Doing Business As) name, please indicate the legal name of the entity and the DBA.

How do I file for the $25,000 exemption on tangible personal property?

If you are a business owner required to file a tangible personal property tax return, your return also serves as your application for the exemption. No additional application form is required. Is there a minimum value that I do not have to report? There is no minimum amount that exempts you from the filing requirements. You must report all tangible personal property. However, if your resulting tax amount is less than $30, you will not receive a tax bill.

Must I report tangible personal property that belongs to someone else, or which I furnish to another business?

Yes. Page 2 of the return requires you to list property used in your business which is owned by others. Typical examples are postage meters, telephone systems, copiers, etc. If you own tangible personal property that you lease to others and is typically located in the county where your business is located, you must report this property on Page 1, line 22 of your return. What are the TPP filing deadlines? What are the non-filing penalties?

Your return must be filed with our office by April 1(pursuant to Section 193.062, Florida Statutes). If you are unable to file your return before April 1, you may file a request for a 30-day extension. Pursuant to Section 193.063, Florida Statutes, this request must be filed in a reasonable amount of time BEFORE the April 1 deadline so our office may act upon it in a timely manner before the due date.

After April 1, if you did not make a timely request for extension, we are required by state law (Section 193.072, Florida Statutes) to apply a penalty of 5% per month (up to a maximum of 25%) for late-filed TPP returns, a 15% penalty for unreported property, and a 25% penalty when no return is filed.

What happens if I do not file a TPP return?

Even if a tax return is not timely filed by April 1, we are still required to assess all tangible personal property. We will make our best estimate based on similar equipment and assets owned by other similar businesses. The assessment will also include a 25% penalty for non-filing -- so it is in your best interest to file a timely return every year.

What if I buy or sell an existing business during the year?

Tangible personal property taxes constitute a lien against the property and are not a personal obligation of the owner. If you buy tangible personal property during the year, you should obtain a copy of paid tax bills for prior years and the seller's return and make an agreeable proration of the current year's taxes. Most title companies do not search the public records for unpaid tangible personal property taxes. You must report the property at your cost rather than your seller's cost. Please furnish your Property Appraisers office with any allocation of purchase price documents, including I.R.S. Form 8594 (Allocation of Purchase Price), if the personal property was acquired with other assets.

What if I have no Tangible Personal Property to report?

Almost every business owner has some personal property to report, even if it is only supplies, rented/leased equipment or fully depreciated/expensed property. If your total tangible personal property is worth under $25,000 -- the amount exempted by law -- your initial TPP tax return is also treated as your application for exemption. Thus, by filing, you are automatically applying to have the first $25,000 of your TPP items be exempt from taxation.

What if I was sent more than one tax return?

You must file a return for each physical location in the county where you have tangible personal property. You will notice that the account numbers are different on each return. Even if you have sold the business or no longer have tangible personal property at a particular location, you must return the form with an explanation.

What is Residential Personal Property (RPP)?

If you own residential rental property, what would normally be household goods if you were living there such as stoves, refrigerators and furniture becomes taxable Tangible Personal Property which must be reported each year. All Tangible Personal Property must be reported, even if it has been fully depreciated or has been "expensed" on your books.

What is the Save Our Homes amendment?

Section 193.155(1) of the Florida Statutes was enacted to implement an amendment to the state constitution to limit annual increases in property value assessments on real property qualifying for and receiving homestead exemption.

How does the amendment limitation apply?

Real property shall be assessed at full market value (just value) as of January 1 of the year in which the property first receives the homestead exemption. The following year the property is reassessed and any changes from the prior year's assessed value is not to exceed the lesser of 3% of that prior year assessed value or the Consumer Price Index percentage change, (except capital improvements, additions or improvements).

How is my property affected?

The year following the granting of homestead exemption, the property is subject to the limitation.

What about any changes, additions or improvements to the homestead property?

New construction or additions shall be assessed at full market value as of the first January 1 after the changes are substantially completed. In these circumstances, it is possible that the assessed value may exceed the amendment limitations. However; after the first year that the changes are assessed at full market value, they are also subject to the amendment limitations.

What properties are not subject to the limitation?

Residences without homestead, non-residential property, vacant land, tangible personal property, commercial property, and agricultural property are not eligible for the amendment limitation.

Why would my assessment increase when my market value stayed the same?

This is probably due to the "recapture" rule. In 1995, the Department of Revenue adopted a rule, approved by the Governor and Cabinet, directing property appraisers to raise the assessed value of a qualifying homestead property by the maximum of 3% or the Consumer Price Index, whichever is less, on all properties assessed at less than full market value (just value).

What happens if a property is sold or conveyed to a new owner?

Once the property has been conveyed to the new owner (and the homestead exemption is interrupted), it is raised to full market value (just value) January 1 of the following year. The new owner must qualify and apply to receive homestead exemption. Even if the property received a homestead exemption under the previous owner, the limitation, just like the exemption, expires January 1 of the year following a change of ownership.