Page 3 - The Shores of Jupiter - March '20

The Shores, Page 3

Business Tangible improvements, supplies, leased equipment and any other assets
used by the business.
Personal Property The filing deadline is April 1. Failure to file will result in
the loss of the exemption and the assessment of penalties per
Florida allows an exemption up to Florida Statutes, Sections 193.072 and 193.073.
Dear Taxpayers: $25,000 in value for tangible personal property assets used by Save time, paper, and postage by filing online using the
Since 1995, the State of Florida has implemented a 3 a business. You must file an initial Tangible Personal Property E-File link on our website www.pbcgov.org/papa. If you need
percent Save Our Homes Cap (SOH) assessment increase Tax Return (DR-405) to receive the exemption. Thereafter a paper form (DR-405) you can download it from our website
limit on all residential properties that receive a homestead you need not file an annual return unless the value of your using the Forms link. If you have any questions about reporting
exemption. The 3 percent SOH Cap limits any increase tangible personal property exceeds $25,000 on Jan. 1. Tangible personal property, tangible e-filing or the $25,000 tangible
to the assessed value of a homestead exempt property to personal property used in a business includes furniture, fixtures, exemption, please call our office at (561) 355-2896 or email
a maximum of 3 percent each year or the change in the machinery, tools, equipment, appliances, signs, leasehold us at patangible@pbcgov.org.
Consumer Price Index, whichever is lower. The Florida
Department of Revenue (DOR) reports this statutory
determination each January. For 2020, the SOH maximum Property Appraiser’s Office has awarded nearly $140,000 in college scholarships. The
increase will be 2.3 percent. program is particularly special to the PAO because the money
The homestead exemption in the state of Florida can save Annual Scholarship Awards raised for the scholarships is 100 percent funded by the staff
hundreds of dollars in property taxes for permanent Florida who participate in “Friday Casual Dress Day,” a volunteer
residents. The first $25,000 in property value is exempt Program donation program.
from all property taxes, including school district taxes. The For more information, call (561) 355-3230 or go to our
additional $25,000 exemption is available for non-school The Palm Beach County Property Appraiser’s Office (PAO) website, www.pbcgov.org/PAPA and click on the “Learn
taxes and applies only to the assessed value between $50,000 is accepting applications for the 27th Annual Scholarship More” tab and click on “About Our Office.” You will find
and $75,000. If you already have a homestead exemption on Awards Program. This year, my office is offering six college the application online.
your property, you do NOT need to reapply. scholarship awards, $1,500
March 2 is the deadline to file for the homestead exemption each to graduating (Palm
and other property tax exemptions, which include those for Beach County) high school
seniors, widows and widowers, persons with disabilities, seniors, who will attend
active-duty military, veterans, “granny flats” and more. In accredited higher education
addition, if you’re moving within the state of Florida and institutions. The deadline to
you’re filing for a homestead exemption, you can e-file for submit is March 31.
portability. (Portability is transferring all or a significant To be eligible for a
portion of your cap savings, up to $500,000, from a home scholarship award, a student
with a homestead exemption to a new home within the state must be a resident of Palm
of Florida that qualifies for a homestead exemption.) For Beach County, have a
more information, go to our website: www.pbcgov.org/PAPA minimum of 3.0 GPA, and
or call Exemption Services at (561) 355-2866. plan to attend an accredited
In this month’s article, a reminder to all business owners higher-education institution
in Palm Beach County about filing for a Tangible Personal (college or junior college).
Property Tax Return for 2020 and my office’s annual college In addition to receiving a
scholarship application process is now open. Enjoy reading scholarship, each recipient will
and wishing you a happy spring. be offered an opportunity for a
Respectfully, paid summer internship in the
Dorothy Jacks, CFA, AAS, property appraiser’s office.
Palm Beach County Property Appraiser Since 1994, the PAO Property Appraiser Dorothy Jacks with 2019 scholarship recipients

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