Page 28 - PGA Community News - February '25

Page 28, PGA C.A.N.! 2 Spaces February 2025
February 2025

Palm Beach County Property Appraiser’s Office

Dear Taxpayer, Portability — You Can Take It With You! Office Closed Due To Holiday
My office is busy
preparing the 2025 Tax If you sell your home and buy a new one, there is good In honor
Roll, a report of the news – you may not lose all the tax savings accumulated of Presidents’
combined value of all the over the years. Day, the Palm
property (real and tangible) Portability refers to Florida’s Save Our Homes provision Beach County
in Palm Beach County as of which allows you to transfer all or a significant portion P roperty
January 1. of your tax benefit, up to $500,000, from a home with a Appraiser ’s
This report will reflect homestead exemption to a new home within the state of Of fice
market data gleaned from Florida that qualifies for a homestead exemption. The (including all
property sales last year as application deadline for portability is March 3, 2025. of our Service
well as new construction, You can e-file for portability when e-filing for your Centers) will
demolition, land splits, land combinations, ownership homestead exemption. Or, if you have already filed for a be closed on
changes, and additions or removals of exemptions. homestead exemption and need only to file for portability, Monday ,
The numbers cited below are as of January 9 and visit our website or call Exemption Services at (561) 355- February 17,
are subject to change. 2866. 2025.
Our estimates show modest increases in sales volume
over last year, indicating stabilization in the market.
• Commercial sales are up from 818 to 880 or 7.6%
• Condo sales are up from 16,877 to 17,417 or 3.2%
• Residential sales are up 17,846 to 18,402 or 3.1%
New construction reflects the growth of our county
as an estimated 5,000 new structures will be added to RE-ELECT
the 2025 Tax Roll. The rate of growth in single family ||
homes is slightly down compared to last year. While more ELECTION DAY MARCH 11
condos are projected be added this year than last, fewer
new commercial buildings will be added.
• New Single-Family Homes – 3,512 down 1.5% from
2024
• New Condominium Units – 1,060 up 9.5% from 2024
• New Commercial Buildings – 197 down 28.1% from
2024
New construction numbers represent property that has
never been taxed before, adding new value to the 2025
Tax Roll. This contributes to the tax base while sharing
the tax burden.
The deadline to file for a homestead exemption is
March 3 this year. This is an excellent time of year to
review your homestead exemption status and examine
additional exemptions that may yield tax savings. In this
month’s newsletter, you will find information to help you
do just that. I hope you find it useful.
Respectfully,
Dorothy Jacks, CFA, FIAAO, AAS Mom. Businesswoman. Commonsense Leader.
Palm Beach County Property Appraiser

Homestead Exemption On Real Property

If you are a permanent Florida resident, you may be
eligible for a homestead exemption, which can save you
generally $750 to $1,000 in property taxes each year. All
homestead exemption applications must be submitted
by March 3, 2025. VOTED to lower taxes
A $25,000 exemption is applied to the first $50,000 while balancing the budget
of your property’s assessed value if your property is your
permanent residence and you owned the property as of
January 1. This exemption applies to all taxes, including NEW INITIATIVES
school district taxes. An additional exemption (up to
$25,000 plus an increase for inflation) will be applied if preserving green spaces
your property’s assessed value is between at least $50,000
and $75,000. This exemption is not applied to school
district taxes. In addition, a homestead exemption limits REDUCED TRAFFIC
any increase to your assessed value to a maximum of 3% improving flow and road safety
each year or the amount of the change in the Consumer
Price Index, whichever is lower.
Three ways to apply:
• E-file at pbcpao.gov
• Visit one of our five service centers to file in person
• Complete the application online, print it out, and mail
it to the Property Appraiser’s Office
Once you qualify, your homestead exemption will
be renewed for you annually as long as you continue to
qualify for the exemption.
Additional Exemptions
If you receive a homestead exemption, you may be
eligible for additional exemptions or discounts in the
categories listed below. The application deadline for all
additional exemptions is March 3, 2025.
• Civilian Disability
• Institutional Exemptions
• Florida Law Enforcement and First Responders
(Disabled in the line of duty)
• Living Quarters for Parents or Grandparents (also
known as the Granny Flat)
• Senior Citizen (Limited-Income) Connect with Marcie:
• Veterans Disability
• Widow/Widower Exemption www.MarcieTinsley.com  561-436-1438  Marcie@MarcieTinsley.com
For more information, visit pbcpao.gov or call
Exemption Services at (561) 355-2866. Paid by Marcie Tinsley, for Palm Beach Gardens City Council, Group 2