Page 18 - Abacoa Community News - June '24

Page 18, Abacoa
Palm Beach County Property Appraiser

Dear Taxpayer: On Aug. 22, my office will mail the Truth in Millage, E-Filing For Homestead Exemption And
The summer months are or TRIM Notice, to all property owners. This notice of Portability
a busy time for my office. proposed taxes details the assessed and taxable values of
Before June 1, my office your property, as well as the tax rates submitted by taxing With our homestead exemption e-file, you can e-file the same
submits the estimated authorities. day you close on a new home, even without the deed. You can
taxable property values As always, I welcome your comments and questions even e-file for portability if moving within the state of Florida.
for 2024 to cities and regarding your property value and exemption amounts. A homestead exemption can reduce the assessed value
other authorities who levy Florida law requires my office to value property based of your property, thereby reducing the amount of property
taxes because they need on the status of the market as of Jan. 1. We use state-of- tax you pay. In addition, a homestead exemption limits any
them to begin developing the-art technology to continuously process property data increase to your assessed value to a maximum of 3 percent
their budgets. The taxing from local and industry sources and from field inspections each year or the amount of the change in the Consumer
authorities review the performed by our highly trained appraisal experts. Price Index, whichever is lower. Portability transfers all or a
property values in their jurisdictions and decide on a Now is a good time to check the mailing address significant portion of your cap savings, up to $500,000, from
proposed tax rate. associated with your property at pbcpao.gov. Simply a home with a homestead exemption to a new home within
On July 1, my office submits a preliminary tax roll to search your property and confirm that your mailing the state of Florida that qualifies for a homestead exemption.
Florida’s Department of Revenue (DOR), the agency that address is correct. If it needs an update, just visit our E Our Exemption Services Department administers all
oversees the operations of all property appraisers in the Address Change Form. exemptions and portability applications and is available to
state. The DOR performs a rigorous review and evaluates In this month’s newsletter there is a reminder that answer your questions. Contact them at myexemption@
the tax roll for accuracy. hurricane season is upon us and a memo to those residents pbcpao.gov or (561) 355-2866.
who have not yet applied for a homestead exemption on Office Closed In Honor Of Juneteenth
their permanent residence in Palm Beach County.
It’s The Law! Enjoy reading and stay safe. Respectfully, The Palm Beach County Property Appraiser’s Office

Dorothy Jacks, CFA, FIAAO, AAS, (including all of our service centers) will be closed in honor
of Juneteenth on Wednesday, June 19. Juneteenth National
Did You Know That, Palm Beach County Property Appraiser Independence Day commemorates the emancipation of
In Florida… Hurricane Season Begins enslaved African Americans in the United States.

June kicks off hurricane season, which runs through
By Adam S. Gumson, Esq. Nov. 30. There are provisions in Florida law that pertain
A condominium
association and a to your property tax assessment if your home has suffered
catastrophic damage by a hurricane.
cooperative (co- If your home suffers hurricane damage, our office will
op) are both forms work with you through the assessment process. We review
of common-interest insurance claims, photographs, repair estimates and invoices,
communities, but they and any other documentation that would detail damage. For
differ in their ownership more information, visit our website or contact (561) 355-3230
structures and the or PAHurricaneDamage@pbcgov.org.
rights of residents. Put As you plan for the season ahead, Palm Beach County
simply, condominium Emergency Management offers essential tips on hurricane
owners have individual preparedness in their Hurricane Planning Guide.
ownership of their units and a shared interest in
common areas, while co-op residents own shares in a
corporation that collectively owns the entire property.
The structure and dynamics of each community type
can influence the level of control residents have over
their living spaces and the decision-making processes
within the community.
An operating agreement in Florida is a legal
document that outlines the internal structure,
organization, and operational procedures of a
limited liability company (LLC). The operating
agreement helps establish the rights, responsibilities
and relationships among the members (owners) and
managers of the company. While Florida law does
not require LLCs to have an operating agreement, it is
highly recommended so as to specify each member’s
rights and duties.
Estate planning refers to the set of documents that
designates people to act both during and after your
lifetime and often consists of some combination of a
living revocable trust, last will and testament, health
care surrogate, durable power of attorney and living
will. It might also include one or more deeds to real
property.
Jupiter Law Center is a private neighborhood law
firm located in the RiverPlace Professional Center,
1003 W. Indiantown Road, Suite 210, Jupiter, Fla.,
(561) 744-4600, jupiterlawcenter.com. The firm
provides peace of mind by solving problems with
integrity and compassion in the areas of estate and
business planning, probate, guardianship and trust
administration, probate and guardianship for personal
injury firms, family law and real estate.

How much will you

need to retire?

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