Page 5 - The Shores of Jupiter - February '22

The Shores, Page 5

is March 1, this is an excellent time for additional exemptions or discounts in the categories
of year to review your homestead listed below. The application deadline for all additional
exemption status and examine additional exemptions is March 1.
exemptions that may yield tax savings. • Civilian disability
Dear Taxpayer: In this month’s newsletter, you will find information to • Institutional exemptions
My office is busy preparing the 2022 Tax Roll, a help you do just that. I hope you find it useful. • Florida law enforcement and first responders (disabled
report of the combined value of all the property (real and Respectfully, in the line of duty)
tangible) in Palm Beach County as of Jan. 1. Dorothy Jacks, CFA, AAS, • Living quarters for parents or grandparents (also known
This report will reflect the ongoing COVID-19 impacts Palm Beach County Property Appraiser as the Granny flat)
on property values in Palm Beach County. In addition to • Senior citizen (limited-income)
market data reflected in property sales last year, my staff Homestead Exemption On • Veterans disability
is analyzing new construction, demolition, land splits, • Widow/widower exemption
land combinations, ownership changes, and additions or Real Property For more information, visit pbcgov.org/PAPA or call
removals of exemptions. Exemption Services at (561) 355-2866.
The numbers cited below are as of Jan. 4 and are If you are a permanent Florida resident, you may be
subject to change. eligible for a homestead exemption, which can save you Portability – You Can Take It
Our estimates show a 21 percent increase in sales generally $750 to $1,000 in property taxes each year. All
volume over last year. This is a good indicator of homestead exemption applications must be submitted With You!
increased demand that continues to spur an increase in by March 1.
sale prices. 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
• Commercial sales are up from 517 to 786 or 52 property’s assessed value if your property is your permanent news – you may not lose all the tax savings accumulated
percent. residence and you owned the property as of Jan. 1. This over the years.
• Condo sales are up from 18,742 to 24,404 or 30 exemption applies to all taxes, including school district taxes. Portability refers to Florida’s Save Our Homes provision
percent. An additional exemption of up to $25,000 will be applied if which allows you to transfer all or a significant portion
• Residential sales are up from 20,899 to 23,471 or your property’s assessed value is between at least $50,000 of your tax benefit, up to $500,000, from a home with a
13.6 percent. and $75,000. This exemption is not applied to school district homestead exemption to a new home within the state of
Our county has seen a surge in new construction, as taxes. In addition, a homestead exemption limits any increase Florida that qualifies for a homestead exemption. The
well. While strictly an estimate, our latest projections to your assessed value to a maximum of 3 percent each year application deadline for portability is March 1.
show that new construction is up by 40 percent for 2022. or the amount of the change in the Consumer Price Index, You can e-file for portability when e-filing for your
An estimated 5,673 new structures will be added to the whichever is lower. homestead exemption. Or, if you have already filed for a
2022 tax roll. Three ways to apply: homestead exemption and need only to file for portability,
• New single-family homes – 3,985 • E-file at pbcgov.org/PAPA. visit our website or call Exemption Services at (561)
• New condominium units – 1,382 • Visit one of our five service centers to file in person. 355-2866.
• New commercial buildings – 306 • Complete the application online, print it out, and mail
Some of this growth can be attributed to large new it to the Property Appraiser’s Office. Office Closed Due To Holiday
residential subdivisions out west that were approved a Once you qualify, your homestead exemption will be
few years ago that we are continuing to add to the tax renewed for you annually as long as you continue to qualify In honor of Presidents’ Day, the Palm Beach County
roll. New construction numbers are always fascinating for for the exemption. Property Appraiser’s Office (including all of our service
me because they represent property that has never been Visit pbcgov.org/PAPA to e-file and for information on centers) will be closed on Monday, Feb. 21.
taxed before. These structures will add new value to the other available exemptions for seniors, families, veterans,
2022 Tax Roll, contributing to a tax base while sharing and more. Advertise In This Newspaper!
the tax burden. Additional Exemptions Call 561-746-3244
As the deadline to file for a homestead exemption If you receive a homestead exemption, you may be eligible