Page 8 - Jupiter West- November '23

Page 8, Jupiter West
Commissioner’s Update

Budgeting To Reduce Your Property taxes make up roughly 25 percent of the significant reserves helps us maintain a AAA rating,
operating budget and public safety takes up the largest
which is the highest credit designation assigned to bond
Tax Burden portion. Departments covering airports and water utilities issuers by rating agencies such as Standard & Poor’s and
are enterprise funds, not funded primarily by property taxes. Fitch. Reserves enable us to respond to emergencies and
By Commissioner Per Florida Statutes, the other funds on the balance sheet unanticipated expenditures without chipping away at services
Maria Marino include the general fund, special revenue funds restricted or residents rely on.
Preparing a balanced committed to a specific purpose, debt service funds, capital Of the total gross budget of $7.9 billion, projected
county budget takes more projects, and internal services. total property tax revenue is $1.9 billion. Approximately
than covering expenditures With a population of just over 1.5 million, nearly half of 72 percent of the property tax revenue is for the general
with revenues. It requires a our residents live in the unincorporated area. fund to provide the budget for the sheriff and other
focus on providing essential After 11 years with a millage rate of 4.7815, the commission constitutional officers, judicial facilities and technology,
services to our residents, last year approved a reduction to 4.715, the rate applied to county departments, capital projects, agency partners who
from garbage pickup and each $1,000 of taxable property value. As new residents have assist the public, and to community development agencies
disposal, to striping roads, to continued to make Palm Beach County their home, tax revenue that reinvest in their infrastructure. The remaining 28 percent
assisting low-income elderly has increased at a rate of more than 13 percent over the past pays for fire rescue, libraries and debt service.
folks keep their utilities on, year. With more money coming into the county coffers, I Feedback from the District 1 communities has made it
to preserving our beaches and natural areas. We must use proposed and achieved unanimous consent from the Board clear that reducing the county tax rate is a trend we need to
precision to create efficiencies and eliminate any waste in to approve a further reduction in the millage rate this year to follow.
our budget in the interest of lessening the tax burden on the 4.50 mils, so that taxpayers can realize more savings. Thank you all for your continued input and please feel free
property owners in this community and helping households This reduction allows us to keep a hefty level of reserve to contact me at (561) 355-2201 or by email at mmarino@
make ends meet. funds. The county’s conservative approach to keeping pbcgov.org.
Don’t Forget To Tell Them How To Share

Submitted by Anné beneficiaries can discuss what to do with the item. This allows Call our office today at (561) 694-7827, Elder & Estate
Desormier-Cartwright, beneficiaries to identify items that need to be discussed while Planning Attorneys PA, 480 Maplewood Drive, Suite 3,
Esq. quickly dividing items that are not in contention. Jupiter, FL 33458.
Personal property can be Sell Everything And Divide Proceeds The content of this article is general and should not be
an important part of many Sometimes, when more than one person wants something, relied upon without review of your specific circumstances
people’s lives. Whether it is there is just no compromise or solution. In these situations, by competent legal counsel. Reliance on the information
something that has monetary you could sell the item and divide the proceeds. While this herein is at your own risk, as it expresses no opinion by
value or something that you may not be a desirable solution, sometimes there is no other the firm on your specific circumstances or legal needs.
have collected for many way. Unfortunately, this method only works well with items An attorney client relationship is not created through the
years, certain items hold of high monetary value. Purely sentimental items may not be information provided herein.
a significant place in your worth much, in which case an alternate method may be needed. To comply with the U.S. Treasury regulations, we must
heart. Figuring out what to Need Help? Bounce Your Ideas Off Of Us inform you that (i) any U.S. federal tax advice contained
do with these items when you are no longer around to enjoy We understand that this can be an emotional and time- in this newsletter was not intended or written to be used,
them can be quite the task. This is especially true if you have consuming experience. We are happy to help you think and cannot be used, by any person for the purpose of
multiple loved ones who you would like to receive your through the available options and draft instructions that fit avoiding U.S. federal tax penalties that may be imposed
personal property. Without your instructions, this situation your unique situation and convey what is most important to on such person and (ii) each taxpayer should seek advice
might turn into a disaster. People may start fighting or hiring you. Give us a call to discuss different options and select the from their tax advisor based on the taxpayer’s particular
lawyers to sue each other to determine what is rightfully one that is right for you. circumstances.
theirs. You can help prevent this from happening by providing
your loved ones with instructions. The following are some
ways you can divide your personal property to help maintain
harmony among your loved ones.
Draw Numbers And Take Turns Choosing
One method for dividing personal property, especially if
you have a large collection of similar items, is to have each
beneficiary draw a number and have them take turns choosing
items in sequential order starting with the person who drew
number 1. Once the last person chooses, the person who drew
number 1 can start the next round. (Example: Round 1: 1, 2,
3, 4; Round 2: 1, 2, 3, 4; Round 3: 1, 2, 3, 4)
To mix things up a bit, once everyone has had an
opportunity to make their first selection, the person who drew
the largest number can start the second round, continuing
in reverse sequential order. For the third round, the person
who drew number 1 can start, and the selections continue in
sequential order. (Example: Round 1: 1, 2, 3, 4; Round 2: 4,
3, 2, 1; Round 3: 1, 2, 3, 4)
Alternatively, after choosing sequentially in the first
round, the person who drew number 2 can start the second
round, and the selections continue in sequential order, ending
with the person who drew number 1. Number 3 starts the
third round and the selections continue in a similar pattern.
(Example: Round 1: 1, 2, 3, 4; Round 2: 2, 3, 4, 1; Round 3:
3, 4, 1, 2)
Number Items For A Drawing
This process can work if you have many items of similar
value. Instead of having the beneficiaries figure out who gets
what, they could leave the decision up to chance. With this
method, all items that are to be distributed are numbered, and
a set of corresponding numbers are placed in a hat or bowl.
The participants then choose a number and get the item that
matches their number.
Auction With Fake Money
If there is an item that more than one person wants, one
way to solve this is through an auction. During the auction,
each participant is allotted an equal amount of fake money.
Then, each item is presented in a random order, and the
participants bid on the items they want. The highest bid wins.
This helps ensure that the person who wants it the most gets
it, but it also means that people may not receive the same
monetary value.
Use Stickers To Stake Claim
Another way to divide personal property is to give each
beneficiary the same number of colored stickers (with each
person getting a different color) and have them place stickers on
the items they want. If an item has only one sticker, the person
who chose it gets the item. If an item has multiple stickers,