Tangible Personal Property

What is Tangible Personal Property?

Tangible Personal Property is everything other than real estate that has value by itself. It would include items such as furniture, fixtures, equipment, tools, machinery, household appliances, signs, leasehold improvements, supplies, leased equipment and any other equipment used in a business or income producing venture.

Who is Required to File?

Anyone in possession of assets on January 1^st  who has either a proprietorship, partnership, corporation or is a self-employed agent or contractor, must file each year. Property owners who lease, loan or rent property must also file.

When Must I File?

All Tangible Personal Property Tax Returns must be filed between January 1^st  and April 1^st  of each year to avoid penalties. Florida Statutes provide that penalties be applied at 5% per month or portion of a month that a return is late. A 15% penalty is required for unreported or omitted property and a 25% penalty if no return is filed.

Why Must I File a Return? 

Florida Statute 193.052 requires that all tangible personal property be reported each year to the Property Appraiser's Office. If you receive a return, it is because our office has determined that you may have property to report. If you feel the form is not applicable, return it with an explanation. Either way, the form must be returned. Failure to receive a Tangible Personal Property Tax Return does not relieve you of your responsibilities to file.

For More Information About Tangible Personal Property, Please Contact: