Page 6 - Jupiter Ocean Mile - November '20

Page 6, Jupiter Ocean Mile
Palm Beach County Property Appraiser’s Office

Dear Taxpayers: related disabilities carries over to such veteran’s surviving
I am pleased to announce spouse who holds legal or beneficial title to, and who
that my office has certified permanently resides on, the homestead property, until
the 2020 real property and he or she remarries or sells or otherwise disposes of
tangible personal property the property. The discount may be transferred to a new
assessment rolls for Palm homestead property of the surviving spouse under certain
Beach County to the tax conditions. The amendment takes effect January 1, 2021.
collector, for the collection If passed, Amendment 6 would transfer a deceased
of taxes. veteran’s combat-related property tax discount to their
The Palm Beach County surviving spouse. The discount would remain in effect
Tax Collector’s Office is until the spouse remarries, dies or sells or disposes of the
responsible for the printing property.
and mailing of your property tax bills, on or before Nov. As always, the Property Appraiser’s position is
1. Be on the lookout for them in the mail. to adhere to the law concerning the outcome of any
In addition, don’t forget about the general election held constitutional amendment. If Amendments 5 and 6 receive
on Nov. 3. There are six proposed amendments on the ballot. approval from the voters, we will make any necessary
Amendments 5 and 6 affect Florida property taxes. To be changes to our processes to comply with the new laws.
added to the state constitution, voters must approve each If you have any questions regarding Amendments 5 and
amendment with a majority of 60 percent of the vote. This 6, please call our office (Exemption Services Department)
month’s article has explanations for Amendments 5 and 6. at (561) 355-2866.
November is also a special month for giving thanks not Disabled Veterans And Certain First Responders
only for our family and friends, but also for the men and Exemptions
women in our nation’s armed forces. We salute and honor Veterans with a total and permanent disability that was Holiday Food Drive
them on Veterans Day. Let us recognize them for their service-connected may be eligible for total exemption of The Palm Beach County Property Appraiser’s Office’s
service and commitment to keeping our nation safe and ad valorem taxes. (This exemption extends to a surviving annual holiday food drive will take place during the month
protecting our freedom. spouse). of November. The special food-raising campaign is in its
In this month’s article, we will review disabled veterans Certain first responders disabled in the line of duty 21st year and is administered by the employees of the
exemptions. In order to qualify for these additional may be eligible for total exemption of ad valorem taxes. property appraiser’s office. Last year, nearly four tons
exemptions, you must have a homestead exemption on your (This exemption extends to a surviving spouse.) of food was collected and donated to Extended Hands
property and have been honorably discharged. I hope you Surviving spouses of certain first responders who die Community Outreach of West Palm Beach and The Glades
will find this information beneficial. in the line of duty may be eligible for total exemption of Initiative, Inc. (which is located in Belle Glade).
Respectfully, ad valorem taxes. The property appraiser’s office encourages and
Dorothy Jacks, CFA, AAS, Veterans with a service-connected disability of 10 supports employee community service throughout Palm
Palm Beach County Property Appraiser percent or more may be eligible for an additional $5,000 Beach County. Our employees are dedicated to the
General Election - Tuesday, Nov. 3 exemption. responsibility of giving back to the community.
Below is a summary of Amendments 5 and 6, which will Veterans with a non-service connected disability may Office Closed Due To Holiday(s)
be on the ballot for the general election, held on Tuesday, be eligible for an additional $500 exemption. The Palm Beach County Property Appraiser’s Office
Nov. 3. Veterans 65 or older with a combat-related permanent (including our five service centers) will be closed on the
Amendment 5 – Limitation On Homestead Assessments disability may be eligible for an ad valorem tax discount. following days in the month of November:
Language: Proposing an amendment to the State For more information on these exemptions you Wednesday, Nov. 11 – Veterans Day
Constitution, effective date Jan. 1, 2021, to increase, from can always call us at (561) 355-2866 or email us at Thursday, Nov. 26 – Thanksgiving Day
two years to three years, the period of time during which myexemption@pbcgov.org. Friday, Nov. 27 – Floating Holiday
accrued “Save Our Homes” benefits may be transferred
from a prior homestead to a new homestead.
The “Save Our Homes” (SOH) benefit caps taxable
assessment increases on homesteaded property at three Get a second opinion on
percent a year, and it allows sellers to take or “port” their
current savings with them when buying a new Florida your financial health.
property, providing they do so within the designated time
frame and meet other requirements.
Under the “portability” component of the homestead Schedule a complimentary, face-to-face
exemption, a homeowner can transfer up to $500,000 of
the accrued benefit from their former primary residence to meeting with a Financial Advisor.
their new home. To transfer the SOH benefit, homeowners
had to claim that exemption within two years - the law sets
the timeline based on the tax roll year. Kevin Prazenica, AAMS® Terrence Burns, AAMS®, ChFC® Timothy Lynch
Amendment 5 would extend the time frame from two tax Senior Vice President – Investment Officer Senior Vice President – Investment Officer Financial Advisor
years to three tax years for property owners to transfer or 3399 PGA Blvd., Ste. 400 3399 PGA Blvd., Ste. 400 3399 PGA Blvd., Ste. 400
“port” all or part of their homestead assessment difference Palm Beach Gardens, FL 33410 Palm Beach Gardens, FL 33410 Palm Beach Gardens, FL 33410
Direct: 561-776-4351
Direct: 561-691-5135
Direct: 561-691-5106
to a new homestead anywhere in Florida. kevin.prazenica@wellsfargoadvisors.com terrence.burns@wellsfargoadvisors.com timothy.lynch@wellsfargoadvisors.com
For Palm Beach County, Amendment 5 applies to 330,000 wellsfargoadvisors.com wellsfargoadvisors.com wellsfargoadvisors.com
current property owners with homestead exemptions.
Amendment 6 – Ad Valorem Tax Discount For Spouses
Of Certain Deceased Veterans Who Had Permanent, Investment and Insurance Products: NOT FDIC Insured NO Bank Guarantee MAY Lose Value
Combat-Related Disabilities
Language: Provides that the homestead property tax Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
© 2015 Wells Fargo Clearing Services, LLC. All rights reserved. CAR-1018-02593 A1951 IHA-6693524
discount for certain veterans with permanent combat-
November 2020 / Jupiter Inlet Tide Chart

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