Steve Weissman, RES, CFE
Business tangible assets such as furniture and equipment valued at more than $25,000 are subject to ad valorem taxes. All businesses are required to file a Tangible Personal Property Tax Return (Form DR 405) annually by April 1st (Florida Statutes 193.062), unless the value of your tangible personal property last year was under $25,000 and you received notice from this office that your requirement to file has been waived. If April 1st falls on a weekend, the deadline becomes the following Monday. The Palm Beach County Property Appraiser will grant an extension for 30 days to any business making a request no later than 5:00 p.m. of the last working day prior to the April 1st filing deadline (F.S. 193.063).
For any tangible personal property return (DR 405) received more than 15 days after the April filing deadline (the absolute statutory deadline prescribed by Florida Statutes 193.063), that account will be subject to late filing penalties of 5% per month up to a maximum of 25% as prescribed by Section 193.072 Florida Statutes. Additionally, the account may not receive the exemption from ad valorem taxation (up to a maximum amount of $25,000 per Florida Statutes 196.183), which is available to all accounts that file on time.
If you do not file on time, Florida Law provides for the loss of the $25,000 exemption (page 3 of instructions to Form DR-405 ).
You may request an extension by going to our Home Page and doing a Tangible Personal Property Search on your account. After pulling up your account, please click on the Request Filing Extension link in the Return Filing Information section. When you complete the form and submit it, you will receive an email acknowledging your request and granting a 30-day extension.
For new accounts seeking an extension, please email firstname.lastname@example.org and include the following information:
- Please indicate that it is a new account to Palm Beach County
- Name of Business (dba) and corporate name, if different
- Location address
- Mailing address, if different
- Federal Tax Identification Number
- Contact name, email and phone
When you send in your return, please attach a copy of the email requesting your extension with your Tax Return (Form DR 405).
If you own a property that has an exempt status (i.e. qualified organizations Religious, Charitable, Scientific, Educational) and use tangible personal property for exempt purposes, click here to download Form DR-504.
To help you determine an asset’s fair market value, see the following charts:
For existing accounts that have filed a Tangible Personal Property Tax Return in the past, we are pleased to provide online E-Filing as a service to business owners in Palm Beach County. Timely filing can provide significant property tax savings by granting up to a $25,000 exemption and avoiding late filing penalties. This interactive system will guide you through the process.
If you are changing (or have changed), your mailing address associated with your business, you can submit an online request to change it in our records through the E-Address change function.
Click here for a tutorial video on how to use it.
Our staff is available to assist you and answer any questions. Please feel free to call our office at 561.355.2896 or email email@example.com.