Call Center: 561-355-2264

Printer-friendly versionSend by email

Tangible Personal Property Tax General FAQ

 

What is Tangible Personal Property tax?  

Tangible personal property taxes are assessments on assets used in a business, such as furniture, fixtures, machinery, equipment, appliances, tools, signs, supplies and leased equipment.

 

Who determines the value of personal tangible property?

The Property Appraiser’s Office of Palm Beach County. Contact the Tangible Personal Propety Appraisal Services department for additional information at 561-355-2896.

 

How is the amount of the tangible personal property tax bill determined?  

When filing your Tax Return with the Property Appraiser’s Office, be sure to report all assets, including fully depreciated and expensed assets.  Provide the asset description original installed cost, year acquired and your estimate of value. The Property Appraiser’s office makes the final determination.

 

I just received my tax bill and I don’t know what it is for. Can you help me?

Tangible personal property taxes are assessments on assets used in a business, such as furniture, fixtures, machinery, equipment, appliances, tools, signs, supplies and leased equipment, as well as mobile home attachments (concrete porches, attachments, etc.). You will receive a bill if you have any property in these categories.

 

I received my tangible tax bill and I’ve noticed there is a penalty. Why?

The penalty is determined by the Property Appraiser’s Office and affects any taxpayer who fails to file a return by the designated deadline (March 31). For more information, contact the Property Appraiser’s Office at 561-355-2896.

 

How do I get the penalty removed?  

Contact the Property Appraiser’s Office for further information at 561-355-2896.

 

I filed Bankruptcy, but I received a tangible personal property tax bill. Why? 

Tangible Personal Property tax bills are sent regardless of bankruptcy status. This bill gives you the opportunity to verify the value of your personal property, which may be assessed during your bankruptcy proceedings. If there is a problem with the assessment, contact the Property Appraiser at 561-355-2896. 

 

I did not file a tax return and I received a tax bill. How does the Property Appraiser know what assets I have? 

There is certain criteria that they follow in order to determine the estimated value of assets. Please contact the Property Appraiser’s office Tangible Personal Property Appraisal Services for more information at 561-355-2896.

 

How do I file a tangible personal property tax return?

View the form and instructions provided by the Property Appraiser's office.

 

Are business owners subject to tangible personal property tax?

Yes. Tangible personal property taxes are assessments on business furnishings equipment, rental property, immovable furnishings or equipment used in operation of the business.

 

Are there any exceptions on this tax for businesses?

Yes. If the business assets are worth a total of $25,000 or less the business does not have to pay the tangible personal property tax.

 

How do I apply for my $25,000 exception for my business?

You must file an initial Tangible Personal Property Tax Return form with the Property Appraiser’s office for approval of the exemption. For additional information contact 561-355-2896.

 

My business assets are less than $25,000.  Why am I receiving a bill? 

You must file an initial Tangible Personal Property Tax Return form with the Property Appraiser’s office for approval of the exemption. For additional information contact 561-355-2896.

 

I own a business but I rent the location from my landlord.  Why did I receive a TPP tax bill?

The tangible personal property assessed against a business is on the furniture, fixture and equipment used in the operation of the business. Therefore, if you own the above type of property you are liable for the tangible personal property tax.

 

I just purchased this business and I received a bill for the old owner’s taxes.  What should I do?

The tax liability follows the personal property, not the owner. Contact the Property Appraiser’s Office at 561-355-2896.

 

I received a bill addressed to my previous business location. What should I do?

Contact the Property Appraiser’s Office at 561-355-2896 to inform them of your new address.

 

I went out of business. What should I do? 

If you were in business as of January 1, of the assessment year, your tax bill is valid and must be paid. In addition, you must notify the Property Appraiser’s office at 561-355-2896. Inform their office that you are no longer in business, so they do not assess you for the next year. 

 

 

All content © 2018 Constitutional Tax Collector, Serving Palm Beach County   |   Disclaimer  
301 North Olive Avenue, P O Box 3715, West Palm Beach, FL 33402   |    561-355-2264