Page 22 - Lifestyles in Palm Beach Gardens - March '25

Page 22, Lifestyles in Palm Beach Gardens
Palm Beach County Property Appraiser’s Office

Dear Taxpayer: For more information, visit pbcpao.gov or call Exemption will result in the loss of the exemption and the assessment of
One of the most Services at (561) 355-2866. penalties per Florida Statutes, Sections 193.072 and 193.073.
underrated aspects of the In this month’s newsletter, a reminder to all business Our office will not waive penalties for any returns filed after
homestead exemption is owners in Palm Beach County about filing for a Tangible the extended deadline of May 15.
that it doesn’t just reduce Personal Property Tax Return for 2025 and my office’s Save time, paper, and postage by e-filing. If you need a
the taxable assessment of annual college scholarship application process is now paper form, you can download the DR-405 on our website.
your home, it also caps its open. Enjoy reading and enjoy your spring. If you have any questions about reporting personal property,
annual valuation. The Save Respectfully, tangible e-filing, or the $25,000 tangible exemption, please
Our Homes cap limits any Dorothy Jacks, CFA, FIAAO, AAS, call our office at (561) 355-2896 or email mytpp@pbcpao.
increase to the assessed Palm Beach County Property Appraiser gov.
value of a homestead
exempt property to a Business Tangible Personal Property Appraiser’s Office
maximum of 3 percent each year or the change in the
Consumer Price Index (CPI), whichever is lower. Over Property Annual Scholarship Awards
time, the cap can provide substantial tax bill savings.
For 2025, the maximum increase will be 2.9 percent, Tangible personal property is equipment used in a business Program
as that was the change in CPI from December 2023 to and includes furniture, fixtures, machinery, tools, appliances,
December 2024. This slowed increase in CPI reflects signs, leasehold improvements, supplies, leased equipment, The 32nd Annual Palm Beach County Property Appraiser’s
plateauing inflation over the past year across dozens of and other assets. It is taxed at the same rate as real property. Scholarship program is now accepting applications. Six
consumer categories including shelter, food, transportation, All tangible personal property must be reported. Florida college scholarships of $1,500 each will be awarded to
and energy. law allows an exemption up to $25,000 for business tangible graduating high school seniors who plan to attend a higher
While the change in the CPI follows many markets, assets. Businesses with tangible personal property assets education institution full-time, regardless of interest or major.
Florida law requires my office to value property based on valued at more than $25,000 are subject to ad valorem taxes, The deadline to apply is March 31.
the status of the real estate market in Palm Beach County. and those with less than $25,000 in assets are exempt from To be eligible for a scholarship award, a student must be a
My office will determine a total market value for every ad valorem taxes. resident of Palm Beach County, have a minimum of 3.0 GPA,
home as of Jan. 1, taking into consideration the price All businesses must file an initial Tangible Personal and plan to attend an accredited higher-education institution
fluctuations reflected in the sales of residential properties. Property Tax Return (DR-405) their first year of operation. (college or community college).
But if your property is homesteaded, the taxable assessed Afterwards, all businesses are required to file a Tangible In addition to receiving a scholarship, each recipient will
value will not increase more than 2.9 percent. Personal Property Tax Return (e-file or Form DR-405) be offered an opportunity for a paid summer internship in
If you already have a homestead exemption on your annually unless the value of the personal property was under the Property Appraiser’s Office.
property, you do not need to reapply. There are several $25,000 and they received a yellow postcard from our office Since 1994, the Palm Beach County Property Appraiser’s
additional property tax exemptions, including those for that the requirement to file has been waived. If a business Office has awarded $179,000 in college scholarships. The
widows/widowers, veterans, and those with disabilities. purchases additional assets that increase the total value of program is particularly special to the Property Appraiser’s
the assets over $25,000, they are required to file a return. Office because the scholarships are completely funded by
The statutory deadline to file a return without an extension employee donations.
is April 1. All extension requests must be received by 5 p.m. For more information, call (561) 355-3230 or visit https://
on March 31 to be considered for approval. Failure to file pbcpao.gov/scholarship-awards.htm.

Office staff at the Florida Chapter of the International
Association of Assessing Officers 2024 Tangible Personal
Property conference: from left, Kathy Rhodes, CFE, Manager;
Trina Morrison-Nash, CFE, Personal Property Appraisal
Department Manager; Tara McCoy, CFE, TPP Appraiser I;
Kevin M. Bradley, PPS, CFE, Senior TPP Appraiser The 2024 scholarship awardees with the Property Appraiser’s Office Scholarship Committee
Tax Talk

Dear Friends: fertilizer on the market so
Is spring in the air? With you need to know what your
a somewhat chilly winter in soil needs before you decide
South Florida, perhaps the to incorporate nutrients into
springtime weather is right the ground. A soil testing
around the corner, and that kit is a good start and I
means outdoor gardening recommend visiting Mounts
is in full swing. While I Botanical Garden’s website
tend to my outdoor garden for helpful gardening tips at www.mounts.org/gardening-tips.
throughout the year, this time Good luck with your spring gardening and enjoy the fruits
of year is about planting and of your labor throughout the year.
fertilizing. But be careful, it Anne M. Gannon, To learn more about homestead exemptions, visit the
is important to know your soil before you plant as you want Constitutional Tax Collector, Serving Palm Beach County Property Appraiser’s website at www.pbcpao.gov.
to ensure the right soil will help your plants grow and remain
healthy. There are many different types and combinations of New Homestead Adjustment Before You Go, You Should

If you are a permanent Florida resident, you may be Know …
eligible for a homestead exemption, as determined by
the Palm Beach County Property Appraiser. A homestead If your 2025 travel plans include taking a flight
Captain’s was established in 1980 servicing exemption lowers your property’s assessed value and caps domestically and/or internationally, please be sure to take
Palm Beach County and is a privately its increase, meaning you pay less in property taxes. note of new travel requirements going into place.
owned and managed company. In last November’s general election, Florida voters On May 7, 2025, all U.S. travelers must be Real ID
Captain’s is committed to providing approved Amendment 5, which took effect on Jan. 1, 2025, compliant to board domestic flights. If you have a gold
dependable, reliable and professional and will begin with the upcoming 2025 tax year assessment. star on your driver license/state identification card, you are
ground transportation to and from all
South Florida Airports and Seaports. PBCVH212 Amendment 5 requires the value of the second, or additional, compliant. If not, be sure to make a reservation at www.
To reserve your vehicle: homestead exemption to be adjusted for annual inflation. If pbctax.gov/reservations to obtain your Real ID. Check the
561-798-2180 or 800-634-7890 www.captainsairport.com inflation goes up, your second exemption will also go up,
and you could pay less in property taxes as a result. Tax Talk on page 23