Q. What is Tangible Personal Property?
A. Tangible Personal Property is everything other than real
estate that has value
by itself. It includes such items as furniture, fixtures, tools,
household appliances, signs, equipment, leasehold improvements,
leased equipment and any other equipment used in a business or to
Q. Who Must File a Tangible Personal Property return?
A. Anyone who owns, or is in possession
of, Tangible Personal Property on January 1 who has either a sole
proprietorship, partnership, company, corporation, or is a self-employed agent
or contractor may be required to file. If you have received a waiver
letter and you have not added property that would cause the total value to
exceed $25,000, you are not required to file a return. If the location of
your business has changed, or if there has been a change in ownership, you
must file a return.
Q. Why must I file a return?
A. Florida Statute 193.052 requires that all Tangible Personal
reported each year to the Property Appraiser's Office. If you
receive a return,
our office has determined that you may have personal property to
report. If you
feel the form is not applicable, the form MUST be returned.
receive a Personal Property Tax Return (DR-405) does not relieve
your obligation to file.
Q. How can I obtain this form?
At the beginning of each year, a return is mailed as a courtesy to most
existing Tangible Personal Property owners who are required to file.
If you do not receive one, contact the Property Appraiser's Office, or
download a return
from our website.
Q. Can I file my return online?
A. Most businesses qualify to file online,
and it is fast and easy. In most cases, the equipment reported on your
prior-year return will already be listed on your online return, and you will
only need to make additions and deletions. See Online Filing on
Q. What if I receive more than one tax return?
A. You may have property at more than one location. If you have
one location, the assets of each should be listed separately on
Q. What if I have no assets to report? Do I
still have to file a return?
A. If you feel you do not have anything to report, fill out items
1 through 9a on the
return and attach an explanation as to why nothing was reported.
businesses will have some reportable assets like furniture, and basic office
equipment. If you have received a waiver letter and you have not added
property that would cause the total value to exceed $25,000, you are not
required to file a return. If the location of your business has
changed, or if there has been a change in ownership, you must file a
Q. If I am no longer in business, should I
still file the return?
A. Yes, if you were operating your business
on January 1, you must file a return for that year. Then notify the
Property Appraiser's office, in writing, that you have closed, or sold your
business. Include the date that the business was closed or
sold, and the name and address of the new owner, if
Download page includes a simple Business Status form that
you may fill
out and mail in. If
you receive a blank return in the mail and you were not operating your
business on January 1, indicate on the return the date you went out of business and the
manner in which you disposed of your business
assets. Sign, date, and mail the return back to this office by April 1.
Q. Are Tangible Personal Property and Real
Estate taxed at the same rate?
A. Yes, both are taxed at the same millage rates if they are in
the same taxing
Q. What if I have old equipment that has been
fully depreciated and written off the books?
A. Whether fully depreciated in your accounting records or
not, if you are required to file, all property still in use or in your
possession should be reported.
Q. Do I have to report assets that I lease,
loan, rent, borrow or assets provided for in the rent?
A. Yes, there is an area on the return specifically for those
assets. Although the assets are assessed to the owner, they must be listed for
Q. Is there a minimum value that I do not have
A. No. If you are required to file there is no
minimum value. A tangible return must be filed on all assets by April 1. If,
however, the taxes amount to less than $5.00, you will not
receive a tax bill.
Q. Are there deadlines and penalties?
A. The deadline for filing a timely return is April 1. After
April 1, Florida Statutes 193.072 provide that penalties be applied at 5% per
month that the return is late, up to 25%. A 15% penalty is required for
unreported property, and a 25% penalty if no return is filed.
Q. What if I buy or sell an existing business
during the year; who is responsible for the taxes?
A. The owner of record on January 1 is responsible. However, if
the taxes are not paid, the tax collector will seize and sell enough of the
purchased property to satisfy the tax lien. Most title companies do not address the
tangible assets of a business. You should consult your attorney or closing agent to
avoid problems in this area.
Q. Is my mobile home considered real or
tangible personal property?
A. If you own both the land and the mobile home, it is considered
real property. If you do not own the land but do own the mobile home, you are
required to purchase a mobile home (MH) decal for your mobile home. This MH
decal replaces taxes. Any attachments such as porches, carports,
additions, and sheds which are added to the mobile home with a MH decal would be
considered personal property. IF no MH decal is purchased for the
mobile home, both the mobile home and the attachments are considered
personal property. If a mobile home with no decals is discovered
on a parcel of land, it will be assumed to be owned by the land owner,
and will be considered real property. Normally, you do not need to file
an annual personal property return for your mobile home.
Q. What is an office or field review assessment?
A. When a tax return is not filed by April 1, we are required to
place an assessment on the property. This assessment represents an
estimate based on the value of businesses with similar equipment and assets. Being
assessed in this manner does not alleviate your responsibility to file an
accurate return nor abate penalties.
Q. What if I don't agree with the assessed
value that appears on the notice of proposed property taxes that I receive in August of each year?
A. Call this office or come in and discuss the matter with us. If
you have evidence that the appraised value is more that the actual value
in use of your property, we will welcome the opportunity to review all the
pertinent facts. If after talking with us, you still disagree with the assessed value,
you may file a petition to be heard by the Value Adjustment Board. However, in
order to be heard by the Value Adjustment Board, you must file a return.
Q. Must an exempt organization file a Return?
A. Yes, Florida Statute 193.052 requires that all personal
property be reported each year to the Property Appraiser's Office. Although an ad
valorem tax exemption application is submitted by March 1, and all
qualifications are met under Chapter 196 of the Florida Statutes, the Property Appraiser
must still determine a value of the assets. You should remember to include
all leased equipment in the appropriate section of the return.
Q. Can I obtain an extension for filing my
Tangible Personal Property Tax Return?
A. Yes. Florida Statue 193.063 provides that an extension will be
granted up to 30 days. The request must be made before the regular due date of
the return. A request
for extension must include the name of the taxable entity
and the tax identification number of the taxable entity. If the
tax ID is unavailable,
provide the physical address of the business.
DATES TO REMEMBER
- File the original return from this
office ( with name and account number preprinted), when possible. Be sure to
sign and date your return.
- It is to your advantage to provide a
breakdown of assets since depreciation on each item may vary.
- Identify any equipment that may have
been "physically removed." List those items in the appropriate space on your
- Do not use vague terms such as
"various" to describe assets or years purchased.
- Additional information regarding filing
is provided in the instructional section of the return itself.
- If you sell your business, go out of business, or move to a new location,
please inform this office. Use downloadable Change of Business Status
For additional information
about Tangible Personal Property, please contact:
Clay County Property Appraiser
Tangible Personal Property Department
P.O. Box 38
Green Cove Springs, Fl 32043