Page 16 - Abacoa Community News - February '24

Page 16, Abacoa
Palm Beach County Property Appraiser

Dear Taxpayer: Homestead Exemption On Real Property For more information, visit pbcpao.gov or call Exemption
My office is busy Services at (561) 355-2866.
preparing the 2024 Tax Roll, If you are a permanent Florida resident, you may be
a report of the combined eligible for a homestead exemption, which can save you Portability – You Can Take It With You!
value of all the property generally $750 to $1,000 in property taxes each year. All
(real and tangible) in Palm homestead exemption applications must be submitted If you sell your home and buy a new one, there is good
Beach County as of Jan. 1. by March 1. news. – You may not lose all the tax savings accumulated
This report will reflect A $25,000 exemption is applied to the first $50,000 over the years.
market data gleaned from of your property’s assessed value if your property is your Portability refers to Florida’s Save Our Homes provision
property sales last year as permanent residence and you owned the property as of Jan. 1. which allows you to transfer all or a significant portion of your
well as new construction, This exemption applies to all taxes, including school district tax benefit, up to $500,000, from a home with a homestead
demolition, land splits, land taxes. An additional exemption of up to $25,000 will be exemption to a new home within the state of Florida that
combinations, ownership changes, and additions or applied if your property’s assessed value is between at least qualifies for a homestead exemption. The application
removals of exemptions. $50,000 and $75,000. This exemption is not applied to school deadline for portability is March 1.
The numbers cited below are as of Jan. 12 and are district taxes. In addition, a homestead exemption limits any You can e-file for portability when e-filing for your
subject to change. increase to your assessed value to a maximum of 3 percent homestead exemption. Or, if you have already filed for a
Our estimates show a decrease in sales volume over each year or the amount of the change in the Consumer Price homestead exemption and need only to file for portability, visit
last year, indicating a continued slowing in demand. Index, whichever is lower. our website or call Exemption Services at (561) 355-2866.
• Commercial sales are down from 1,275 to 818 or There Are Three Ways To Apply Office Closed Due To Holiday
35.8 percent. • E-file at pbcpao.gov
• Condo sales are down from 21,196 to 16,877 or 20.4 • Visit one of our five service centers to file in person In honor of Presidents’ Day, the Palm Beach County
percent. • Complete the application online, print it out, and mail Property Appraiser’s Office (including all of our Service
• Residential sales are down from 21,638 to 17,846 or it to the Property Appraiser’s Office Centers) will be closed on Monday, Feb. 19.
17.5 percent. Once you qualify, your homestead exemption will be
New construction reflects the growth of our county as renewed for you annually as long as you continue to qualify
an estimated 5,000 new structures will be added to the for the exemption.
2024 Tax Roll. The rate of growth in single-family homes
remains unchanged from last year while more condos and Additional Exemptions
commercial buildings are projected to be added this year
than last. If you receive a homestead exemption, you may be eligible
• New Single-Family Homes – 3,566, almost no change for additional exemptions or discounts in the categories
from 2023 listed below. The application deadline for all additional
• New Condominium Units – 968, up 26 percent from 2023 exemptions is March 1.
• New Commercial Buildings – 274, up 8.7 percent • Civilian disability
from 2023 • Institutional exemptions
New construction numbers represent property that has • Florida law enforcement and first responders (disabled
never been taxed before, adding new value to the 2024 Tax in the line of duty)
Roll. This contributes to the tax base while sharing the tax • Living quarters for parents or grandparents (also known
burden. as the granny flat)
As the deadline to file for a homestead exemption • Senior citizen (limited-income)
is March 1, this is an excellent time of year to review • Veterans disability
your homestead exemption status and examine additional • Widow/widower exemption
exemptions that may yield tax savings. In this month’s
newsletter, you will find information to help you do just
that. I hope you find it useful.
Respectfully,
Dorothy Jacks, CFA, FIAAO, AAS,
Palm Beach County Property Appraiser

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THERE’S A NEW DERMATOLOGIST IN THE NEIGHBORHOOD.

Yuval Bibi, M.D., is board certified by the American Board of
Dermatology Associates of the Palm Beaches is a group
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trained Mohs surgeons providing general dermatology,
Gardens and Delray Beach offices. Dr Bibi’s clinical practice surgical dermatology, and cosmetic dermatology services.
Our physicians are also recognized leaders in the diagnosis
interests include general dermatology, surgical dermatology, and treatment of skin cancer.
as well as a special focus on genital dermatology, mucosal

dermatosis, and scalp and nail disease. Dr Bibi sees both
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where he earned his medical degree, as well as a PhD at Ben Make an appointment to see Dr. Bibi

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at the combined Boston University-Tufts University Palm Beach Gardens Delray Beach
10335 N. Military Trail 2605 W. Atlantic Ave.
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