Page 9 - Abacoa Community News - February '22

Abacoa, Page 9
Palm Beach County Property Appraiser’s Office

Dear Taxpayer: As the deadline to file for a homestead exemption eligible for additional exemptions or discounts in the
My office is busy is March 1, this is an excellent time of year to review categories listed below. The application deadline for all
preparing the 2022 Tax Roll, your homestead exemption status and examine additional additional exemptions is March 1.
a report of the combined exemptions that may yield tax savings. In this month’s • Civilian disability
value of all the property (real newsletter, you will find information to help you do just • Institutional exemptions
and tangible) in Palm Beach that. I hope you find it useful. • Florida law enforcement and first responders (disabled
County as of Jan. 1. Respectfully, in the line of duty)
This report will reflect Dorothy Jacks, CFA, AAS, • Living quarters for parents or grandparents (also known
the ongoing COVID-19 Palm Beach County Property Appraiser as the Granny flat)
impacts on property values • Senior citizen (limited-income)
in Palm Beach County. In Homestead Exemption On • Veterans disability
addition to market data • Widow/widower exemption
reflected in property sales last year, my staff is Real Property For more information, visit pbcgov.org/PAPA or call
analyzing new construction, demolition, land splits, Exemption Services at (561) 355-2866.
land combinations, ownership changes, and additions or If you are a permanent Florida resident, you may be
removals of exemptions. eligible for a homestead exemption, which can save you Portability – You Can Take It
The numbers cited below are as of Jan. 4 and are generally $750 to $1,000 in property taxes each year. All
subject to change. homestead exemption applications must be submitted With You!
Our estimates show a 21 percent increase in sales by March 1.
volume over last year. This is a good indicator of A $25,000 exemption is applied to the first $50,000 of your If you sell your home and buy a new one, there is good
increased demand that continues to spur an increase in property’s assessed value if your property is your permanent news – you may not lose all the tax savings accumulated
sale prices. residence and you owned the property as of Jan. 1. This over the years.
• Commercial sales are up from 517 to 786 or 52 exemption applies to all taxes, including school district taxes. Portability refers to Florida’s Save Our Homes
percent. An additional exemption of up to $25,000 will be applied if provision which allows you to transfer all or a significant
• Condo sales are up from 18,742 to 24,404 or 30 your property’s assessed value is between at least $50,000 portion of your tax benefit, up to $500,000, from a home
percent. and $75,000. This exemption is not applied to school district with a homestead exemption to a new home within the
• Residential sales are up from 20,899 to 23,471 or taxes. In addition, a homestead exemption limits any increase state of Florida that qualifies for a homestead exemption.
13.6 percent. to your assessed value to a maximum of 3 percent each year The application deadline for portability is March 1.
Our county has seen a surge in new construction, as or the amount of the change in the Consumer Price Index, You can e-file for portability when e-filing for your
well. While strictly an estimate, our latest projections whichever is lower. homestead exemption. Or, if you have already filed for a
show that new construction is up by 40 percent for 2022. Three ways to apply: homestead exemption and need only to file for portability, visit
An estimated 5,673 new structures will be added to the • E-file at pbcgov.org/PAPA. our website or call Exemption Services at (561) 355-2866.
2022 tax roll. • Visit one of our five service centers to file in person.
• New single-family homes – 3,985 • Complete the application online, print it out, and mail it Office Closed Due To Holiday
• New condominium units – 1,382 to the Property Appraiser’s Office.
• New commercial buildings – 306 Once you qualify, your homestead exemption will be In honor of Presidents’ Day, the Palm Beach County
Some of this growth can be attributed to large new renewed for you annually as long as you continue to qualify Property Appraiser’s Office (including all of our service
residential subdivisions out west that were approved a few for the exemption. centers) will be closed on Monday, Feb. 21.
years ago that we are continuing to add to the tax roll. New Visit pbcgov.org/PAPA to e-file and for information on
construction numbers are always fascinating for me because other available exemptions for seniors, families, veterans, and
they represent property that has never been taxed before. more. CC CCCCCC
These structures will add new value to the 2022 Tax Roll, Additional Exemptions
contributing to a tax base while sharing the tax burden. If you receive a homestead exemption, you may be

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