Page 11 - Jupiter Ocean Mile - February '24

Jupiter Ocean Mile, Page 11
Palm Beach County Property Appraiser

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

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