Page 4 - The Shores of Jupiter - March '24

Page 4, The Shores
Palm Beach County Property Appraiser

Dear Taxpayer: Property Appraiser’s Office Since 1994, the Palm Beach County Property Appraiser’s
O ne of the mos t Annual Scholarship Awards Office has awarded $170,000 in college scholarships. The
underrated aspects of the program is particularly special to the property appraiser’s
homestead exemption is Program office because the scholarships are completely funded by
that it doesn’t just reduce employee donations.
the taxable assessment of The 31st Annual Palm Beach County Property For more information, call (561) 355-3230 or visit https://
your home, it also caps its Appraiser’s Scholarship Program is now accepting pbcpao.gov/scholarship-awards.htm.
annual valuation. The Save applications. Six college
Our Homes cap limits any scholarships of $1,500 each
increase to the assessed will be awarded to graduating
value of a homestead high school seniors who
exempt property to a plan to attend a higher
maximum of 3 percent each year or the change in the education institution full
consumer price index (CPI), whichever is lower. Over time, regardless of interest or
time, the cap can provide substantial tax bill savings. major. The deadline to apply
For 2024, the maximum increase will be 3 percent, as is March 31.
the change in CPI increased 3.4 percent from December To be eligible for a
2022 to December 2023. This increase in CPI reflects scholarship award, a student
continued but slowing inflation over the past year across must be a resident of Palm
dozens of consumer categories including shelter, food, Beach County, have a
transportation and energy. minimum of 3.0 GPA and
While the change in the CPI follows many markets, plan to attend an accredited
Florida law requires my office to value property based higher-education institution
on the status of the real estate market. My office will (college or community
determine a total market value for every home as of Jan. 1, college).
taking into consideration the price fluctuations reflected in In addition to receiving a
the sales of residential properties. But if your property is scholarship, each recipient will
homesteaded, the taxable assessed value will not increase be offered an opportunity for a Palm Beach County Property Appraiser Dorothy Jacks (second from left) with the PAO’s
more than 3 percent. paid summer internship in the Scholarship Committee (back row) and four of the 2023 scholarship awardees (from left to
If you already have a homestead exemption on your property appraiser’s office. right): E’Rinze Murphy, Inari Larios, Jayden James and Kia Ghods
property, you do NOT need to reapply. There are several
additional property tax exemptions, including those for
widows/widowers, veterans and those with disabilities.
For more information, visit pbcpao.gov or call Exemption
Services at (561) 355-2866.
In this month’s newsletter, a reminder to all business
owners in Palm Beach County about filing for a Tangible
annual college scholarship application process is now How much will you
Personal Property Tax Return for 2024 and my office’s
open. Enjoy reading and enjoy your spring.
Respectfully, need to retire?
Dorothy Jacks, CFA, FIAAO, AAS,
Palm Beach County Property Appraiser
Call to schedule a
Business Tangible Personal one-on-one.
Property

Tangible personal property is equipment used in a business Sally S Stahl, AAMS™
and includes furniture, fixtures, machinery, tools, appliances, Financial Advisor
signs, leasehold improvements, supplies, leased equipment 1851 W Indiantown Rd Ste 106
and other assets. It is taxed at the same rate as real property. Jupiter, FL 33458
Florida allows an exemption up to $25,000 in value 561-748-7600
for tangible personal property assets used by a business. Sally.Stahl@edwardjones.com
You must file an initial Tangible Personal Property Tax
Return (DR-405) to receive the exemption, unless you
have received notification from our office that you are
exempt from filing. Thereafter, you need not file an annual
return unless the value of your tangible personal property CAMPBELL AND KARLIK, P.A.
exceeds $25,000 on Jan. 1.
The filing deadline is April 1, 2024. Failure to file will ATTORNEYS AT LAW
result in the loss of the exemption and the assessment of
penalties per Florida Statutes, Sections 193.072 and 193.073.
Save time, paper, and postage by e-filing. If you
need a paper form, you can download the DR-405 on Wills • Trusts • Estate Planning • Probate
our website. If you have any questions about reporting Taxation • Real Estate • Corporations
personal property, tangible e-filing, or the $25,000 tangible
exemption, please call our office at (561) 355-2896 or
email mytpp@pbcpao.gov.

Editorial copy appearing herewith is not necessarily the viewpoint of
Seabreeze Publications of Central Florida. Most editorial copy is created by
the homeowners and is edited by their appointed editor.

1102 W. Indiantown Rd., Suite 5, Jupiter, FL 33458
(561) 746-3244

FAX (561) 746-2509

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M. Sean Reid
J. Reid Diane L. KarLiK

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