Page 7 - The Shores of Jupiter - March '21

The Shores, Page 7

Business Tangible internship in the Property Appraiser’s Office.
Since 1994, the Palm Beach County Property
Personal Property Appraiser’s Office has awarded nearly $150,000 in
college scholarships. The program is particularly special
Dear Taxpayer: Florida allows an exemption up to $25,000 in value for to the Property Appraiser’s Office because the money
The homestead exemption not only reduces the taxable tangible personal property assets used by a business. You raised for the scholarships is 100 percent funded by
assessment of your home, it also caps the annual valuation must file an initial Tangible Personal Property Tax Return employees who volunteer to donate to the fund in return
of that property. (DR-405) to receive the exemption. Thereafter, you need for casual dress Fridays.
Since 1995, the state of Florida has implemented a not file an annual return unless the value of your tangible For more information call (561) 355-3230 or visit
Save Our Homes cap, limiting any increase to the assessed personal property exceeds $25,000 on January 1. Tangible pbcgov.org/papa/scholarship-awards.htm.
value of a homestead exempt property to a maximum personal property used in a business includes furniture,
of 3 percent each year or the change in the Consumer fixtures, machinery, tools, equipment, appliances, signs,
Price Index, whichever is lower. For 2021, the maximum leasehold improvements, supplies, leased equipment, and
increase will be 1.4 percent. any other assets used by the business.
And, you can take those capped savings with you. The filing deadline is April 1. Failure to file will
E-file for portability when you file for your new result in the loss of the exemption and the assessment
homestead exemption and you can transfer all or a of penalties per Florida Statutes, Sections 193.072 and
significant portion of your cap savings, up to $500,000, 193.073.
from a home with a homestead exemption to a new home Save time, paper, and postage by filing online using
within the state of Florida that qualifies for a homestead the E-file link on our website pbcgov.org/papa. If you
exemption. need a paper form (DR-405) you can download it from
The homestead exemption in the state of Florida can our website on the Forms page. If you have any questions
save hundreds of dollars in property taxes for permanent about reporting personal property, tangible E-filing, or
Florida residents. The first $25,000 in property value is the $25,000 tangible exemption, please call our office at
exempt from all property taxes, including school district (561) 355-2896 or email mytpp@pbcgov.org.
taxes. The additional $25,000 exemption is available for
non-school taxes and applies only to the assessed value Property Appraiser’s Office
between $50,000 and $75,000.
If you already have a homestead exemption on your Annual Scholarship Awards
property, you do not need to reapply. Other property
tax exemptions include those for seniors, widows and Program
widowers, persons with disabilities, active-duty military,
veterans, “granny flats,” and more. For more information, My office is now accepting applications for the
visit pbcgov.org/papa or call Exemption Services at (561) 28th Annual Palm Beach County Property Appraiser’s
355-2866. Scholarship. Six college scholarships of $1,500 each will
In this month’s newsletter, a reminder to all business be awarded to graduating high school seniors who plan Captain’s was established in 1980 servicing
owners in Palm Beach County about filing for a tangible to attend a higher education institution full time. The Palm Beach County and is a privately
personal property tax return for 2021 and my office’s deadline to submit is March 31. owned and managed company.
annual college scholarship application process is now To be eligible for a scholarship award, a student must Captain’s is committed to providing
dependable, reliable and professional
open. Enjoy reading and enjoy your spring. be a resident of Palm Beach County, have a minimum ground transportation to and from all
Respectfully, of 3.0 GPA, and plan to attend an accredited higher- South Florida Airports and Seaports.
Dorothy Jacks, CFA, AAS, education institution (college or community college). To reserve your vehicle: PBCVH212
Palm Beach County Property Appraiser In addition to receiving a scholarship, each recipient 561-798-2180 or 800-634-7890 www.captainsairport.com
We Value What You Value will be offered an opportunity for a paid summer

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MARCH 15 – 21

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