Page 12 - Abacoa Community News - March '21

Page 12, Abacoa
Palm Beach County Property Appraiser’s Office

Dear Taxpayer: Property Appraiser’s Office graduating high school seniors who plan to attend a higher
The homestead education institution full time. The deadline to submit is
exemption not only reduces Annual Scholarship Awards March 31.
the taxable assessment of To be eligible for a scholarship award, a student must
your home, it also caps the Program be a resident of Palm Beach County, have a minimum of
annual valuation of that 3.0 GPA, and plan to attend an accredited higher-education
property. My office is institution (college or community college).
Since 1995, the state of now accepting In addition to receiving a scholarship, each recipient will
Florida has implemented applications for be offered an opportunity for a paid summer internship in
a Save Our Homes cap, the 28th Annual the Property Appraiser’s Office.
limiting any increase to Pa lm Be ach Since 1994, the Palm Beach County Property Appraiser’s
the assessed value of a County Property Office has awarded nearly $150,000 in college scholarships.
homestead exempt property to a maximum of 3 percent each Appraiser ’ s The program is particularly special to the Property Appraiser’s
year or the change in the Consumer Price Index, whichever is Sc h o l a r sh i p . Office because the money raised for the scholarships is 100
lower. For 2021, the maximum increase will be 1.4 percent. Si x c o l l e g e percent funded by employees who volunteer to donate to the
And, you can take those capped savings with you. scholarships of fund in return for casual dress Fridays.
E-file for portability when you file for your new homestead $1,500 each will For more information call (561) 355-3230 or visit pbcgov.
exemption and you can transfer all or a significant portion be awarded to org/papa/scholarship-awards.htm.
of your cap savings, up to $500,000, from a home with a
homestead exemption to a new home within the state of
Florida that qualifies for a homestead exemption. Get a second opinion on
The homestead exemption in the state of Florida can save
hundreds of dollars in property taxes for permanent Florida
residents. The first $25,000 in property value is exempt your financial health.
from all property taxes, including school district taxes. The
additional $25,000 exemption is available for non-school
taxes and applies only to the assessed value between $50,000 Schedule a complimentary, face-to-face
and $75,000.
If you already have a homestead exemption on your meeting with a Financial Advisor.
property, you do not need to reapply. Other property tax
exemptions include those for seniors, widows and widowers,
persons with disabilities, active-duty military, veterans, Kevin Prazenica, AAMS® Terrence Burns, AAMS®, ChFC® Timothy Lynch
“granny flats,” and more. For more information, visit pbcgov. Senior Vice President – Investment Officer Senior Vice President – Investment Officer Financial Advisor
org/papa or call Exemption Services at (561) 355-2866. 3399 PGA Blvd., Ste. 400 3399 PGA Blvd., Ste. 400 3399 PGA Blvd., Ste. 400
Palm Beach Gardens, FL 33410
Palm Beach Gardens, FL 33410
Palm Beach Gardens, FL 33410
In this month’s newsletter, a reminder to all business Direct: 561-691-5106 Direct: 561-691-5135 Direct: 561-776-4351
owners in Palm Beach County about filing for a tangible kevin.prazenica@wellsfargoadvisors.com terrence.burns@wellsfargoadvisors.com timothy.lynch@wellsfargoadvisors.com
personal property tax return for 2021 and my office’s annual wellsfargoadvisors.com wellsfargoadvisors.com wellsfargoadvisors.com
college scholarship application process is now open. Enjoy
reading and enjoy your spring.
Respectfully, Investment and Insurance Products: NOT FDIC Insured NO Bank Guarantee MAY Lose Value
Dorothy Jacks, CFA, AAS,
Palm Beach County Property Appraiser 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
We Value What You Value

Business Tangible Personal
Property

Florida allows an exemption up to $25,000 in value for
tangible personal property assets used by a business. You
must file an initial Tangible Personal Property Tax Return
(DR-405) to receive the exemption. Thereafter, you need
not file an annual return unless the value of your tangible
personal property exceeds $25,000 on January 1. Tangible
personal property used in a business includes furniture, Get Lucky in
E-file link on our website pbcgov.org/papa. If you need a Love
fixtures, machinery, tools, equipment, appliances, signs,
leasehold improvements, supplies, leased equipment, and
any other assets used by the business.
The filing deadline is April 1. Failure to file will result

in the loss of the exemption and the assessment of penalties
per Florida Statutes, Sections 193.072 and 193.073.

Save time, paper, and postage by filing online using the
paper form (DR-405) you can download it from our website
on the Forms page. If you have any questions about reporting
personal property, tangible E-filing, or the $25,000 tangible
exemption, please call our office at (561) 355-2896 or email
mytpp@pbcgov.org.

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