Page 14 - Talk of Tequesta - February '24

Page 14, The Talk Of Tequesta

loCal governmenT from page 12
Palm Beach County Property Appraiser

Dear Taxpayer: Additional Exemptions tax benefit, up to $500,000, from a home with a homestead
My office is busy exemption to a new home within the state of Florida that
preparing the 2024 Tax If you receive a homestead exemption, you may be eligible qualifies for a homestead exemption. The application
Roll, a report of the for additional exemptions or discounts in the categories deadline for portability is March 1.
combined value of all the listed below. The application deadline for all additional You can e-file for portability when e-filing for your
property (real and tangible) exemptions is March 1. homestead exemption. Or, if you have already filed for a
in Palm Beach County as of • Civilian disability homestead exemption and need only to file for portability, visit
Jan. 1. • Institutional exemptions our website or call Exemption Services at (561) 355-2866.
This report will reflect • Florida law enforcement and first responders (disabled in
market data gleaned from the line of duty) Office Closed Due To Holiday
property sales last year as • Living quarters for parents or grandparents (also known
well as new construction, as the granny flat) In honor of Presidents’ Day, the Palm Beach County
demolition, land splits, land combinations, ownership • Senior citizen (limited-income) Property Appraiser’s Office (including all of our Service
changes, and additions or removals of exemptions. • Veterans disability Centers) will be closed on Monday, Feb. 19.
The numbers cited below are as of Jan. 12 and are • Widow/widower exemption
subject to change. For more information, visit pbcpao.gov or call Exemption
Our estimates show a decrease in sales volume over Services at (561) 355-2866.
last year, indicating a continued slowing in demand.
• Commercial sales are down from 1,275 to 818 or Portability – You Can Take It
35.8 percent.
• Condo sales are down from 21,196 to 16,877 or 20.4 With You!
percent.
• Residential sales are down from 21,638 to 17,846 or If you sell your home and buy a new one, there is good
17.5 percent. news. – You may not lose all the tax savings accumulated over
New construction reflects the growth of our county as the years.
an estimated 5,000 new structures will be added to the Portability refers to Florida’s Save Our Homes provision
2024 Tax Roll. The rate of growth in single-family homes which allows you to transfer all or a significant portion of your
remains unchanged from last year while more condos and
commercial buildings are projected to be added this year
than last. Clerk Alert
• New Single-Family Homes – 3,566, almost no change
from 2023
• New Condominium Units – 968, up 26 percent from Making Your Tax Dollars Work As Hard As You Do
2023
• New Commercial Buildings – 274, up 8.7 percent Palm Beach County’s Our investment team is guided by the county investment
from 2023 investment portfolio has policy, developed by our in-house professionals and
New construction numbers represent property that has enjoyed record-setting returns the county’s investment policy committee. That policy
never been taxed before, adding new value to the 2024 in 2023, earning a record governs what type of investments our team can make
Tax Roll. This contributes to the tax base while sharing $172 million in investment and provides guidelines related to risk management and
the tax burden. income for the fiscal year that reporting requirements.
As the deadline to file for a homestead exemption ended on Sept. 30. In technical terms, the portfolio benefited from money
is March 1, this is an excellent time of year to review This income is money invested in short, fixed income investments tied to rising
your homestead exemption status and examine additional that Palm Beach County will interest rates. This fueled the portfolio’s growth, with
exemptions that may yield tax savings. In this month’s use to help ease the financial investment income for the 2023 fiscal year reaching its
newsletter, you will find information to help you do just burden on taxpayers, highest point ever – more than five times the $32.6 million
that. I hope you find it useful. supporting vital services of income earned in fiscal year 2022.
Respectfully, such as community centers, public safety and parks. Investment balances are at an all-time high, peaking
Dorothy Jacks, CFA, FIAAO, AAS, How did we achieve such strong growth this past fiscal at over $4.5 billion, and include conservative financial
Palm Beach County Property Appraiser year? To put it simply, in my role as comptroller I lead a team instruments such as certificates of deposit, money market
of investment professionals who safeguard and invest county accounts, small business administration pools and Israel
Homestead Exemption On tax dollars. Unlike many other counties, our finance team bonds.
operates entirely in-house, which gives us greater control
In addition to our role as comptroller, we play a crucial
Real Property and flexibility over our investments. role in maintaining accurate and transparent county
Our investment team – which includes me, Treasurer records. We are committed to providing our community
If you are a permanent Florida resident, you may be Felicia Landerman, Investment Analyst John Burford and with information to help people understand how their tax
eligible for a homestead exemption, which can save you Radcliffe Brown, our chief operating officer of finance – money is being invested and spent.
generally $750 to $1,000 in property taxes each year. All combined have eight decades of professional investment Visit www.mypalmbeachclerk.com/countyfinances
homestead exemption applications must be submitted experience. Our investment team earned certification from for investment information and to review other county
by March 1. the Centre for Fiduciary Excellence (CEFEX) for the last 15 financial reports.
A $25,000 exemption is applied to the first $50,000 of consecutive years. My team is dedicated to making sure that your tax dollars
your property’s assessed value if your property is your Together, we have positioned Palm Beach County at the work as hard as you do. If you have any questions, do not
permanent residence and you owned the property as of forefront of investment opportunities, meeting weekly to hesitate to contact my office.
Jan. 1. This exemption applies to all taxes, including discuss strategy and monitor portfolio performance. This Regards,
school district taxes. An additional exemption of up to allows us to maximize investment earnings while ensuring Joseph Abruzzo,
$25,000 will be applied if your property’s assessed value that tax dollars are protected. Clerk of the Circuit Court & Comptroller
is between at least $50,000 and $75,000. This exemption
is not applied to school district taxes. In addition, a
homestead exemption limits any increase to your assessed
value to a maximum of 3 percent each year or the amount
of the change in the Consumer Price Index, whichever is
lower.
There Are Three Ways To Apply
• Visit one of our five service centers to file in person How much will you
• E-file at pbcpao.gov
• Complete the application online, print it out, and
mail it to the Property Appraiser’s Office need to retire?
Once you qualify, your homestead exemption will
be renewed for you annually as long as you continue to
qualify for the exemption. Call to schedule a
one-on-one.

Sally S Stahl, AAMS™
Financial Advisor
1851 W Indiantown Rd Ste 106
Jupiter, FL 33458
561-748-7600
Sally.Stahl@edwardjones.com