Page 11 - Jupiter Ocean Mile - February '25

Jupiter Ocean Mile, Page 11
Palm Beach County Property Appraiser’s Office

Dear Taxpayer, Homestead Exemption On Real Property Portability — You Can Take It With You!
My office is busy
preparing the 2025 Tax Roll, If you are a permanent Florida resident, you may be If you sell your home and buy a new one, there is good
a report of the combined eligible for a homestead exemption, which can save you news – you may not lose all the tax savings accumulated over
value of all the property (real generally $750 to $1,000 in property taxes each year. All the years.
and tangible) in Palm Beach homestead exemption applications must be submitted by Portability refers to Florida’s Save Our Homes provision
County as of January 1. March 3, 2025. which allows you to transfer all or a significant portion of your
This report will reflect A $25,000 exemption is applied to the first $50,000 of tax benefit, up to $500,000, from a home with a homestead
market data gleaned from your property’s assessed value if your property is your exemption to a new home within the state of Florida that
property sales last year as permanent residence and you owned the property as of qualifies for a homestead exemption. The application
well as new construction, January 1. This exemption applies to all taxes, including deadline for portability is March 3, 2025.
demolition, land splits, land school district taxes. An additional exemption (up to You can e-file for portability when e-filing for your
combinations, ownership changes, and additions or removals $25,000 plus an increase for inflation) will be applied if homestead exemption. Or, if you have already filed for a
of exemptions. your property’s assessed value is between at least $50,000 homestead exemption and need only to file for portability, visit
The numbers cited below are as of January 9 and are and $75,000. This exemption is not applied to school our website or call Exemption Services at (561) 355-2866.
subject to change. district taxes. In addition, a homestead exemption limits
Our estimates show modest increases in sales volume over any increase to your assessed value to a maximum of 3% Office Closed Due To Holiday
last year, indicating stabilization in the market. each year or the amount of the change in the Consumer
• Commercial sales are up from 818 to 880 or 7.6% Price Index, whichever is lower. In honor of Presidents’ Day, the Palm Beach County
• Condo sales are up from 16,877 to 17,417 or 3.2% Three ways to apply: Property Appraiser’s Office (including all of our Service
• Residential sales are up 17,846 to 18,402 or 3.1% • E-file at pbcpao.gov Centers) will be closed on Monday, February 17, 2025.
New construction reflects the growth of our county as an • Visit one of our five service centers to file in person
estimated 5,000 new structures will be added to the 2025 Tax • Complete the application online, print it out, and mail it
Roll. The rate of growth in single family homes is slightly to the Property Appraiser’s Office Northern Notes from page 10
down compared to last year. While more condos are projected Once you qualify, your homestead exemption will be
be added this year than last, fewer new commercial buildings renewed for you annually as long as you continue to qualify on the other side. Without this access, maintenance of
will be added. for the exemption. preserves and stormwater facilities becomes impossible,
• New Single-Family Homes – 3,512 down 1.5% from 2024 Additional Exemptions which could put the district in violation of regulations
• New Condominium Units – 1,060 up 9.5% from 2024 If you receive a homestead exemption, you may be eligible with the South Florida Water Management District. In
• New Commercial Buildings – 197 down 28.1% from 2024 for additional exemptions or discounts in the categories some cases, this lack of access may even result in improper
New construction numbers represent property that has listed below. The application deadline for all additional functioning of these systems.
never been taxed before, adding new value to the 2025 exemptions is March 3, 2025. For more information, please visit our website at www.
Tax Roll. This contributes to the tax base while sharing • Civilian Disability npbcid.org, where you can view facility maps that display
the tax burden. • Institutional Exemptions the locations of easements. Additionally, the site includes a
The deadline to file for a homestead exemption is • Florida Law Enforcement and First Responders link to our geographical information system (GIS), which
March 3 this year. This is an excellent time of year to review (Disabled in the line of duty) presents property information and district facilities in an
your homestead exemption status and examine additional • Living Quarters for Parents or Grandparents (also known interactive map format.
exemptions that may yield tax savings. In this month’s as the Granny Flat) NPDES tip: Dirt, oil, and debris that collect in parking
newsletter, you will find information to help you do just that. • Senior Citizen (Limited-Income) lots and paved areas can be washed into the storm sewer
I hope you find it useful. • Veterans Disability system and eventually enter local waterbodies. Sweep up
Respectfully, • Widow/Widower Exemption litter and debris from sidewalks, driveways and parking
Dorothy Jacks, CFA, FIAAO, AAS For more information, visit pbcpao.gov or call Exemption lots, especially around storm drains.
Palm Beach County Property Appraiser Services at (561) 355-2866.

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