Page 14 - Boca Exposure - January '25

Page 14, Boca Exposure
Palm Beach County Property Appraiser

Dear Taxpayer: (Did you receive your pink homestead exemption Business Tangible Personal
Happy New Year! receipt card in the mail? If so, no need to refile. Simply
With a new year before keep the card as your receipt that you have been Property
us, my office has a renewed automatically renewed for another year.)
sense of purpose as we work A $25,000 exemption is applied to the first $50,000 Business tangible assets such as furniture, fixtures, and
to constantly improve our of your property’s assessed value if your property is your equipment are subject to ad valorem taxes. All businesses
services. Every department permanent residence and you owned the property as of are required to file a Tangible Personal Property Tax
in my office has created January 1. This exemption applies to all taxes, including Return (Form DR 405) annually by April 1, unless the
a list of goals to achieve school district taxes. An additional exemption will be value of your tangible personal property last year was
over the year. Our focus for applied if your property’s assessed value is between at least under $25,000 and you received notice from this office
2025 includes improving $50,000 and $75,000. The second exemption will be up to that your requirement to file has been waived. Businesses
consistency across the $25,000 plus an adjustment for inflation, per the passage of that have not previously filed an initial return or the value
office, building an environment that makes staff and Amendment 5 last November. This exemption is not applied exceeds $25,000 will receive a notice from our office of
visitors from all backgrounds feel welcome, and fostering to school district taxes. In addition, a homestead exemption the requirement to file a return.
innovation to improve efficiency. limits any increase to your assessed value to a maximum Florida allows an exemption up to $25,000 in value
My staff develop these goals every year, driving our of 3 percent each year or the amount of the change in the for tangible personal property assets used by a business.
progress as an office. I am proud to have one of the finest Consumer Price Index, whichever is lower. However, you must file an initial tangible personal
professional staffs in the industry. Three ways to apply: property tax return to receive the exemption. Thereafter,
You may see some of my stellar staff at the South • E-file you need not file an annual return unless the value of your
Florida Fair, as we will once again be able to take • Visit one of our five service centers to file in person tangible personal property exceeds $25,000 on January 1.
homestead exemption applications on site. More on that • Complete the application online, print it out, and Once an initial paper return has been filed, you may
is below, as are reminders about filing for an Agricultural mail it to our office save time, paper, and postage by filing online. If you do
Land Classification and Business Tangible Personal All homestead exemption applications for tax year need a paper form, you can download it using our Forms
Property Tax Return for 2025. 2025 must be submitted by March 3, 2025. Once you link. If you have any questions about reporting personal
Wishing you a prosperous and wonderful year. qualify, we will renew your homestead exemption property, tangible e-filing, or the $25,000 tangible
Respectfully, annually as long as you continue to qualify for the exemption, please call our office at (561) 355-2896 or
Dorothy Jacks, CFA, FIAAO, AAS exemption. email us at patangible@pbcpao.gov.
Palm Beach County Property Appraiser Visit pbcpao.gov to e-file and for information on other
available exemptions for seniors, families, veterans, and Office Closed
2025 South Florida Fair more.
All Palm Beach County Property Appraiser’s Offices will
The Palm Beach County Property Appraiser’s Office All About Agricultural Land be closed on Wednesday, January 1 and on Monday, January
will have a table in Expo West at the South Florida Fair 20 in honor of Dr. Martin Luther King Jr. Day.
from January 17 to February 2. Staff will be will taking new Classification
homestead exemption applications and answering questions
from 10 a.m. to 6 p.m. on weekends and Martin Luther King, Properties with bona fide agricultural (good faith
Jr. Day, and from 12 to 8 p.m. weekdays. commercial) activity may qualify for the agricultural land
classification. The taxable value of the land is based on
the annual net income per acre attributable to the land
from the agricultural operation.
All 5,029 properties with the agricultural classification
in 2024 will be reviewed and monitored for changes of
ownership. If you had the land classification on your
property in 2024, and the use has not changed, there is
no need to reapply. However, if a property had a change
of ownership or use in 2024, the owner would have to
reapply for the classification in 2025.
To qualify for a new agricultural land classification,
the qualifying agricultural use must be on site as of
January 1, 2025. Applications should be submitted by
March 3, 2025. You will be notified of the status of your
application for the agricultural classification by mail on
or before July 1.
For more information, call our office at (561) 355-
Reduce Tax With the 4577 or email myfarm@pbcpao.gov.

Homestead Exemption

If you are a permanent Florida resident, you may be
eligible for a homestead exemption, which can generally
save you an estimated $750 to $1,000 in property taxes
each year.

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