Page 12 - PGA Community News - February '22

Page 12, PGA C.A.N.! February 2022 February 2022
Palm Beach County Property Appraiser’s Office

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