Florida Statutes

In compliance with Florida Statutes, all tangible personal property (TPP) located in this county and used in the operation of a business or other income-producing venture as of January 1st of each year must be reported at 100% of the unadjusted original cost. Property must be reported to the Property Appraiser’s office on the DR-405 form.

What is Tangible Personal Property (TPP)?

Tangible Personal Property (TPP) is personal property that is physical and can be relocated. TPP includes:

• Machinery and equipment, furniture, fixtures, tools, office equipment, computer equipment, signage, supplies, and any other equipment used to operate a business, including old or fully depreciated equipment. Additionally, property that has been expensed under IRS Section 179 must also be reported.
• Leasehold improvements related to your business.
• Leased, loaned, or rented equipment
• Furniture and fixtures used in the rental of any residential property or commercial property are taxable.

Tangible Personal Property taxes become delinquent on April 1st of each year at which time a 1.5% penalty per month is added to the tangible tax notice. Within 45 days after the date of delinquency, the Tax Collector is required by law to advertise a list of the delinquent taxpayers one time in a local newspaper. The cost of the advertising is added to the tax notice.

Florida Statutes requires the Tax Collector to issue Tax Warrants prior to April 30th of the next tax year on all unpaid Tangible Personal Property Taxes. The Tax Collector must then petition the Circuit Court for an order ratifying and directing the levy, seizure and sale of the property for the amount of the unpaid taxes and costs.