Page 18 - Abacoa Community News - March '23

Page 18, Abacoa
Palm Beach County Property Appraiser’s Office

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

To be eligible for a
It’s The Law! scholarship award, a
student must be a resident of
Palm Beach County, have a
Did You Know That, In minimum of 3.0 GPA, and
plan to attend an accredited
Florida… higher-education institution
(college or community
By Adam S. Gumson, Esq. college).
Probate involves the I n a d d i t i o n t o
process of appointing a receiving a scholarship,
personal representative each recipient will be Palm Beach County Property Appraiser Dorothy Jacks (far right) with five of the 2022 scholarship
(often called executor offered an opportunity awardees; from left to right: Ben-Gina Fantaisie, Diksha Gupta, Kazi Amin, Jelianys Ramos-
in other states) whose for a paid summer Burgos, and Tasnia Tabassum
duty it is to discover and internship in the Property
pay valid creditors of the Appraiser’s Office. to the Property Appraiser’s Office because the scholarships
estate. Having a will does Since 1994, the Palm Beach County Property are completely funded by employee donations.
not negate the need for Appraiser’s Office has awarded more than $160,000 in For more information, call (561) 355-3230 or visit
probate. It only identifies college scholarships. The program is particularly special pbcgov.org/papa/scholarship-awards.htm.
the preferred personal
representative and beneficiaries. However, if there are still
bank accounts or other assets in the decedent’s name at the
time of death, and those accounts do not have designated
beneficiaries, it is likely that a probate shall be required.
Alimony is not one-size-fits-all. Florida provides
a number of distinct alimony options: temporary,
rehabilitative, durational, bridge-the-gap or permanent
and the scope of each type of alimony can vary widely
depending on the financial disparity of the parties, the
length of the marriage and a number of other factors that
are considered by the court.
If a trust owns a unit in a condominium association,
the grantor of the trust, or a qualified beneficiary of the
trust is considered a member of the association and can
serve as a director of the association provided he/she
occupies the condominium unit.
A power of attorney becomes operative
immediately upon execution. Florida does not permit
a signatory to state a future date for effectiveness. This
powerful document gives the named attorney-in-fact
the ability to perform any of the powers detailed in
the document instantly.
Jupiter Law Center is a private neighborhood law
firm located in the RiverPlace Professional Center, 1003
W. Indiantown Road, Suite 210, Jupiter, FL, (561) 744 -
4600, jupiterlawcenter.com. The firm provides peace of
mind by solving problems with integrity and compassion
in the areas of estate planning (wills and trusts, powers
of attorney, health care surrogates, living wills, probate
estates, succession planning, contracts and purchase/
sale agreements), family law (divorce, paternity, child
support and time sharing, alimony, property distribution,
modifications, collaborative law, pre/post nuptial
agreements) and real estate (community association law,
residential and commercial transactions, deeds, closings).