Page 18 - Boca Exposure - August '24

Page 18, Boca Exposure
Palm Beach County Property Appraiser

Dear Taxpayer: 2024 TRIM – Your Notice Of Filing For A Homestead
Welcome August!
My office is preparing Proposed Property Taxes Exemption
the 2024 Truth in Millage or
TRIM notices. These notices The front of your TRIM notice shows the market, assessed *If you already have a homestead exemption on your
of proposed property taxes will and taxable values of your property, plus information about property and you have not purchased a new home in the
be mailed to every property qualified exemptions and assessment caps. Florida law past year, you do not need to reapply.
owner in Palm Beach County requires our office to value property based on the status If you are a permanent Florida resident, you may be
on Aug. 22. of the real estate market and the personal property market eligible for a homestead exemption, which can save you
TRIM is: as of Jan. 1. Our office welcomes any questions regarding generally $750 to $1,000 in property taxes each year.
• Your notification of your notice, property value and exemption amounts at (561) A $25,000 exemption is applied to the first $50,000
property value 355-2866 or MyExemption@pbcpao.gov. of your property’s assessed value if your property is your
This notice shows the change in market, assessed and taxable The other side of your notice highlights the proposed permanent residence and you owned the property as of
values of your property. millage, or tax rate, by taxing authority. These tax Jan. 1. This exemption applies to all taxes, including
• An explanation of any exemptions rates are set by your county, city, or other agency with school district taxes. An additional exemption of up to
Any exemptions or assessment reductions are spelled out on taxing authority. While state law requires the Property $25,000 will be applied if your property’s assessed value
the front of your notice. Appraiser’s Office to value property based on the status of is between $50,000 and $75,000. This exemption is not
• Your chance to have a say in your tax rates the market, your tax rate is set by taxing authorities who applied to school district taxes.
The notice shows proposed millages, or tax rates, for each answer to you, the voter. Every resident has the right to In addition, a homestead exemption limits any increase
taxing authority, as well information about each authority’s speak to the elected officials who levy taxes at the public to your assessed value to a maximum of 3 percent each
budget hearing, so that you are empowered to participate in the meetings listed in your notice. If you have questions about year or the amount of change in the Consumer Price Index,
process of setting your tax rates. your tax rates, contact the specific taxing authority listed whichever is lower. For 2024, the maximum increase will
We are always available to help you make sense of this notice in the TRIM. be 3 percent.
and property appraisals, exemptions, and assessment caps. An If you have questions about tax collection, contact the The deadline to file for homestead exemption is March
interactive TRIM guide will be live at pbcpao.gov/trim this Palm Beach County Tax Collector’s Office. 1 of the qualifying year.
month, but please always feel free to contact us. Three Ways To Apply
As you review your notice, I invite you to contact my office at Filing A Petition • E-file at pbcpao.gov. The fastest way to file, you can
(561) 355-2866 if you feel that the market value of your property E-file without the deed the day you close on a home in
is inaccurate or missing an exemption. Additionally, you have If you feel that the market value of your property listed Palm Beach County.
the right to file a petition through the Value Adjustment Board. in your TRIM notice is inaccurate or does not reflect fair • Complete the application online, print it out, and mail
Your tax bill will be mailed by the Palm Beach County Tax market value as of Jan. 1, 2024, or you are entitled to an it to: Palm Beach County Property Appraiser’s Office,
Collector in November. exemption or classification that is not reflected on your Exemption Services, 1st Floor, 301 N. Olive Ave., West
In this month’s newsletter, a brief overview of the TRIM notice, contact the Property Appraiser’s Office for an Palm Beach, FL 33401.
notice and an important reminder for those property owners informal review at (561) 355-2866. • Visit one of our five service centers to file in person.
who are permanent Florida residents but have not yet filed for If we are unable to resolve the matter, you have the Visit pbcpao.gov for information on other available
a homestead exemption. right to file a petition for adjustment with the Value exemptions for seniors, families, veterans and more.
I hope you find this information beneficial and wish you a Adjustment Board (VAB) through the Clerk of the Circuit
wonderful month. Court and Comptroller. They can be reached at (561)
Respectfully, 355-6289.
Dorothy Jacks, CFA, FIAAO, AAS, Petitions must be filed with the VAB on or before
Palm Beach County Property Appraiser Monday, Sept. 16, 2024.
Property Appraiser’s Office Submits Preliminary Tax Roll

By Dorothy Jacks Highlights Once the tax roll is approved, the property appraiser’s
Palm Beach County-wide property (taxable) values • Total market value: $514,083,273,824 office will prepare the notices of proposed property taxes
have increased 9.99 percent from 2023 to 2024, according • Total taxable value: $318,011,189,076 and non-ad valorem assessments. This individualized form
to the 2024 preliminary tax roll that the Palm Beach • Total net new construction taxable: $5,071,916,743 shows each Palm Beach County property owner the value
County Property Appraiser’s Office submitted to Florida’s • Total parcel count: 655,933 of their property, proposed tax rates and public hearing
Department of Revenue and to local taxing authorities • Total tangible accounts: 58,270 information. These notices are mailed in mid-August.
today. These values are based upon market conditions as “For the first time in our county’s history, new construction This is the second of three certifications of value
of Jan. 1, 2024. topped $5 billion,” said Property Appraiser Dorothy Jacks, required by law of the property appraiser’s office. A final
The preliminary tax roll is a systematic listing of CFA, AAS. “This is new value that is being taxed for the first certification occurs prior to the Nov. 1 tax bill.
information pertaining to the just valuation of all real time this year, adding revenue to many districts.”
property within Palm Beach County for purposes of ad
valorem taxation. Taxing authorities use these values to
prepare their upcoming budgets and to determine their
proposed millage (tax) rates.

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