Tangible Personal Property Tax
If your business or rental property has furniture, fixtures and/or equipment, then you must pay Tangible Personal Property Tax (TPP).
The Palm Beach County Property Appraiser determines the value of the TPP. If it is valued at $25,000 or less you do not need to pay TPP tax. However, an initial return must be filed. If your tangible personal property value stays below $25,000, there is no need to file a return in subsequent years.
TPP value is assessed on January 1. If you have any questions about your assessments, contact the Property Appraiser at (561) 355-2896.
Similar to Property Tax, TPP tax bills are mailed and the taxes are payable November 1 through March 31.
Discounts for early payments are allowed as follows:
- 4% in November
- 3% in December
- 2% in January
- 1% in February
Tangible Personal Property Taxes become delinquent April 1, at which time 1.5% interest per month is added. Within 45 days after delinquency, the property is advertised in a local newspaper and advertising costs are added.
Tax warrants are issued on all unpaid tangible personal property taxes. Within 30 days, the Constitutional Tax Collector applies to the Clerk and Comptroller for an order directing levy and seizure of the property for the amount of unpaid taxes and costs.
Changes to the tax roll (name, address, location or assessed value) are processed through the Property Appraiser.
Tangible personal property tax is applied to mobile homes in the following situations:
- The mobile home is not permanently affixed to or taxed as real property.
- The mobile home does not have a current registration decal properly affixed.
- Structural additions to mobile homes are subject to this tax.