News on Behalf of Palm Beach County Property Appraiser’s Office - June 2021 Newsletter
Palm Beach County Property Appraiser’s Office | June 2021 Newsletter
Dear Taxpayer:
Welcome to our South Florida summer!
On June 1, my office submits the estimated taxable property values for 2020 to all Palm Beach County taxing authorities. These values assist in the groundwork for the taxing authorities’ budgets.
On July 1, my office submits a preliminary tax roll to Florida’s Department of Revenue, the agency that oversees the operations of all Property Appraisers in the state.
During the next few months, the tax roll process will continue as always. Because Florida law requires my office to value property based on the status of the real estate market and the personal property market as of January 1, the impacts of COVID-19 will be incorporated into the tax roll. While markets were slow in the early days of the pandemic, the second half of 2020 saw record sales in both volume and prices. As always, I welcome your comments and questions regarding your property value and exemption amounts.
Now is a good time to check the mailing address associated with your property at pbcgov.org/PAPA. Simply search your property and confirm that your mailing address is correct. If it needs an update, just click the “Change of Address” button under the “Owner Information” section.
In this month’s newsletter, a reminder that hurricane season is upon us and a memo to those residents who have not yet applied for a homestead exemption on their permanent residence in Palm Beach County. Enjoy reading and stay safe.
Respectfully,
Dorothy Jacks, CFA, AAS
Palm Beach County Property Appraiser
We Value What You Value
Hurricane Season Begins
June kicks off Hurricane Season, which runs through November 30. As part of your hurricane preparations, take a moment to review the ‘Report Storm Damaged Property’ information on our website, pbcgov.com/PAPA. It offers important details you need to know if your property sustains severe storm damage. If you have any questions, call my office at 561.355.3230. Palm Beach County Emergency Management offers essential tips on hurricane preparedness in their Hurricane Planning Guide (PDF).
E Filing for Homestead Exemption and Portability
With the homestead exemption E file module, you can E file the same day you close on a new home without the deed. Simultaneously, you can E file for portability if moving within the state of Florida and filing for a homestead exemption.
A homestead exemption can reduce the assessed value of your property, thereby reducing the amount of property tax you pay.
A $25,000 exemption is applied to the first $50,000 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 school district taxes. An additional exemption of up to $25,000 will be applied if 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 any increase to your assessed value to a maximum of 3% each year or the amount of the change in the Consumer Price Index, whichever is lower. Portability transfers all or a significant portion of your cap savings, up to $500,000, from a home with a homestead exemption to a new home within the state of Florida that qualifies for a homestead exemption.
Our Exemption Services Department administers all exemptions and portability applications and is available to answer your questions. Contact them at myexemption@pbcgov.org or 561.355.2866.
