Page 21 - Southern Expsoure - June '20

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Southern Exposure, Page 21

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Property Appraiser’s Office FinanCial FoCuS

Taxpayers: Vote-By-Mail For 2020
As my office monitors Why Should You
the evolving impact of Elections
the coronavirus, we are
implementing ongoing Due to the coronavirus pandemic, there has been a growing See A Financial
measures to ensure the interest across the nation to expand vote-by-mail this year in
health and safety of our order to keep poll workers and voters safe.
staff, while also maintaining Vote-by-mail refers to voting a ballot received by mail or Advisor?
the highest level of service picked up by or for a voter instead of going to the polls to
to the taxpayers of Palm vote during early voting or election day. Any registered voter By Sally Sima Stahl
Beach County. can vote by mail. You can request a vote-by-mail ballot for
We are keeping up with a specific election or for all elections through the next two The social distancing
CDC guidelines and are in contact with county officials general elections. After two general elections, you will need and stay-at-home orders
and will continue to adjust our guidance accordingly. Please to make the request again. necessitated by the
refer to our website: www.pbcgov.org/PAPA and our social For more information on this, go to the Palm Beach County coronavirus have led many
media channels for the most up-to-date information. Supervisor of Elections’ website: https://www.pbcelections. of us to feel isolated. Still,
On June 1, my office submits the estimated taxable org/ or call them at (561) 656-6208. we’ve fought back through
property values for 2020 to all Palm Beach County taxing social media, “virtual”
authorities. These values assist in the groundwork for the A Reminder About Efiling gatherings and walks in
taxing authorities’ budgets. the neighborhood, where
On July 1, my office submits a preliminary tax roll to For A Homestead Exemption we could greet friends
Florida’s Department of Revenue, the agency that oversees and neighbors (from 6 feet
the operations of all Property Appraisers in the state. And Portability away). But when you’re
During the next few months, the tax roll process will dealing with the financial effects of the virus and you’re
continue and as always, I welcome your comments and In 2019, my office improved the Homestead Exemption investing alone, you could encounter some problems that
questions regarding your property value and exemption Efile module (on our website: www.pbcgov.org/PAPA) and may prove costly.
amounts. You can email us at PAO@pbcgov.org. implemented an online feature which allows you to file for Of course, with so much investment-related information
In this month’s article, a reminder that the 2020 hurricane a homestead exemption online the same day you close on a available online, on television and in any number of
season is upon us, information about vote-by-mail for the new home even without the deed. We also added an online periodicals, it’s not surprising that some people feel they
upcoming elections and a memo to those residents who component for when you’re moving within the state of can invest without any assistance. But the volatility of
have not yet applied for a homestead exemption on their Florida and filing for a homestead exemption, you can Efile the financial markets over the past few months has also
permanent residence in Palm Beach County. Enjoy reading for portability. pointed to the dangers of going solo in the investment
and stay safe. Remember, a homestead exemption can reduce the assessed world. And you might find that a professional financial
Respectfully, value of your property, thereby reducing the amount of property advisor can help you in several ways, including the
Dorothy Jacks, CFA, AAS, tax you pay. following:
Palm Beach County Property Appraiser In the state of Florida, a $25,000 exemption is applied to the Taking Emotions Out Of Investing
first $50,000 of your property’s assessed value if your property During this period of market turbulence, many self-
Hurricane Season is your permanent residence and you owned the property on guided investors are letting their emotions drive their
investment decisions. As a result, they sell investments
Begins In June Jan. 1 of the tax year. This exemption applies to all taxes, when their price is down, “locking in” their losses.
including school district taxes. An additional exemption of up
to $25,000 will be applied if your property’s assessed value is Furthermore, if they then stay out of the financial markets,
The month of June kicks off the 2020 hurricane season between at least $50,000 and $75,000. This exemption is not they will miss out on the eventual recovery – and some of
in South Florida, which runs from June 1 through Nov. 30. applied to school district taxes. the biggest gains in market rallies usually occur right at the
As a reminder to all property owners in Palm Beach County, Portability is transferring all or a significant portion of your beginning. But if you work with a financial advisor who
take a moment to review our ‘Report Storm Damaged cap savings, up to $500,000, from a home with a homestead has helped you develop a personalized investment strategy
Property’ information on our website, www.pbcgov.org/ exemption to a new home within the state of Florida that based on your goals, risk tolerance and time horizon, you
PAPA. It offers important details you need to know if your qualifies for a homestead exemption. Homestead exemption will be far less likely to react to extreme market conditions
property sustains severe storm damage. If you have any and portability applications must be submitted by March 1 by making ill-advised decisions.
questions, call my office at (561) 355-3230. For essential (of the qualifying year). Maintaining Perspective
tips on hurricane preparedness, log onto the Palm Beach Our Exemption Services department which administers all When you’re putting away money for the future
County Emergency Management website at: http://discover. exemptions and portability applications including the E file and you suddenly have a lot less of it, you might start
pbcgov.org/publicsafety/dem/Pages/default.aspx. module on our website, is available to answer your questions. to wonder if that future is somehow in jeopardy. But
Contact them at myexemption@pbcgov.org or (561) 355-2866. if you’ve been working with a financial advisor and
following your investment strategy, you’ll know that you
don’t have to immediately cash out those investments that
have lost value, and you may not need to liquidate them
CAMPBELL AND KARLIK, P.A. for decades if they were designed for a long-term goal,
such as retirement. By the time you do need to sell them,
ATTORNEYS AT LAW their value may well have appreciated significantly. And
if you’ve got a well-constructed portfolio, you’ll also own
shorter-term, less volatile investments to help meet your
current cash flow needs.
Wills • Trusts • Estate Planning • Probate Understanding The History Of Investing

Taxation • Real Estate • Corporations The recent market instability is unique in the sense that
its cause – a worldwide pandemic – is so highly unusual,
and it hopefully will be a once-in-a-lifetime experience.
Typically, prolonged market downturns are triggered by
explainable financial or economic factors, such as the
bursting of the “dot-com” bubble in 2000. However,
market drops of 20 percent or more – generally referred to
as bear markets – are not at all unusual and have happened
every few years over the past several decades. Financial
advisors are well aware of this history and share it with
their clients. And for many people, the knowledge that
“we’ve been here before” is reassuring and makes it easier
for them to continue following their investment strategies.
The road to your financial goals is a long one, with
many twists and turns. So you might like to have some
experienced company along the way.
This article was written by Edward Jones for use by
your local Edward Jones Financial Advisor.
Edward Jones, its employees and financial advisors
Diane L. KarLiK are not estate planners and cannot provide tax or legal
advice.
Call me for a free portfolio review at (561) 748-7600,
Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
Tel: (561) 625-5220 106, Jupiter, FL 33458.
3450 Northlake Boulevard Suite 210 Fax: (561) 625-5201• Mobile: (561) 797-5004
Palm Beach Gardens, FL 33403 EMail: dlkarlik@aol.com [ [