Page 7 - The Shores of Jupiter- March '23
P. 7

The Shores, Page 7
       Palm Beach County Property Appraiser’s Office

      Dear Taxpayer:                                     Business Tangible Personal                        furniture, fixtures, machinery, tools, equipment, appliances,
        One powerful aspect of                                                                             signs, leasehold improvements, supplies, leased equipment,
      the homestead exemption                            Property                                          and any other assets used by the business.
      is that it caps the annual                                                                             The filing deadline is April 3. Failure to file will result
      valuation of your home. In                           Florida allows an exemption up to $25,000 in value   in the loss of the exemption and the assessment of penalties
      addition to a reduction in the                     for tangible personal property assets used by a business.   per Florida Statutes, Sections 193.072 and 193.073.
      taxable assessment of your                         You must file an initial Tangible Personal Property Tax     Save time, paper, and postage by filing online using the
      home, the Save Our Homes                           Return (DR-405) to receive the exemption, unless you   E-file link on our website If you need a
      Cap limits any increase                            have received notification from our office that you are   paper form (DR-405) you can download it from our website
      to the assessed value of a                         exempt from filing. Thereafter, you need not file an   on the Forms page. If you have any questions about reporting
      homestead exempt property                          annual return unless the value of your tangible personal   personal property, tangible E-filing, or the $25,000 tangible
      to a maximum of 3 percent                          property exceeds $25,000 on Jan. 1.               exemption, please call our office at (561) 355-2896 or email
      each year or the change in the Consumer Price Index (CPI),     Tangible personal property used in a business includes
      whichever is lower.
        For 2023, the maximum increase will be 3 percent,
      as the change in CPI increased 6.5 percent from  Property Appraiser’s Office Annual Scholarship Awards Program
      December 2021 to December 2022. This increase in CPI
      reflects continued inflation over the past year across     The  30th Annual  Palm  Beach  County
      dozens of consumer categories including shelter, food,   Property Appraiser’s Scholarship program
      transportation, and energy.                        is now accepting applications. Six college
        While the change in the CPI follows many markets,   scholarships of $1,500 each will be awarded
      Florida law requires my office to value property based   to graduating high school seniors who plan to
      on the status of the real estate market. My office will   attend a higher education institution full time,
      determine a total market value for every home as of   regardless of interest or major. The deadline
      Jan. 1, taking into consideration the price fluctuations   to apply is March 31, 2023.
      reflected in the sales of residential properties. But if your     To be eligible for a scholarship award, a
      property is homesteaded, the taxable assessed value will   student must be a resident of Palm Beach
      not increase more than 3 percent.                  County, have a minimum of 3.0 GPA, and
        If you already have a homestead exemption on your   plan to attend an accredited higher-education
      property, you do NOT need to reapply. There are several   institution (college or community college).
      additional property tax exemptions, including one for     In  addition  to  receiving a  scholarship,
      widows/widowers that increased this year from $500 to   each recipient will be offered an opportunity
      $5,000.  For  more  information  on  that  or  any  property   for a paid summer internship in the Property
      tax exemption, visit or call Exemption   Appraiser’s Office.
      Services at (561) 355-2866.                          Since 1994, the Palm Beach County
        In this month’s newsletter, a reminder to all business   Property Appraiser’s Office has awarded
      owners in Palm Beach County about filing for a Tangible   more than $160,000 in college scholarships.
      Personal Property Tax Return for 2023 and my office’s annual   The  program  is  particularly  special  to  the
      college scholarship application process is now open. Enjoy   Property Appraiser’s Office because the
      reading and enjoy your spring.                     scholarships are completely funded by
                                           Respectfully,   employee donations.                  Palm Beach County Property Appraiser Dorothy Jacks (far right) with five
                                 Dorothy Jacks, CFA, AAS,    For more information, call (561) 355-3230 or   of the 2022 scholarship awardees; from left to right: Ben-Gina Fantaisie,
                      Palm Beach County Property Appraiser  visit  Diksha Gupta, Kazi Amin, Jelianys Ramos-Burgos, and Tasnia Tabassum

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