Your March Property Appraiser eNewsletter

MARCH 2026

This free monthly eNewsletter highlights the latest developments in the Palm Beach County Property Appraiser's Office. You may unsubscribe below, or give us your feedback by replying to this email. We hope you enjoy!

PALM BEACH COUNTY PROPERTY APPRAISER'S OFFICE

March 2026 Newsletter

Dear Taxpayer:

Many homeowners think of the homestead exemption as a way to reduce their property taxes, but it also provides important protection against increases in assessed value. Florida’s Save Our Homes Cap limits how much the assessed value of a homesteaded property may increase each year—no more than 3% or the change in the Consumer Price Index (CPI), whichever is lower. Over time, this limitation can result in meaningful tax savings.

For the 2026 tax year, the change in the Consumer Price Index (CPI) is 2.7%, which means the assessed value of a homesteaded property may not increase by more than that amount.

Although the CPI is a national index, Florida law requires my office to determine property values based on conditions in the local real estate market. Each year, we establish the market value of every property in Palm Beach County as of January 1, using recent sales and other relevant market data. For properties receiving the homestead exemption, the taxable assessed value is limited by the Save Our Homes Cap.

If your property already has a homestead exemption, there is no need to reapply. Additional property tax exemptions may also be available for qualified homeowners, including those for widows and widowers, veterans, and individuals with disabilities. For more information, visit www.pbcpao.gov or contact

Exemption Services at 561.355.2866.

Respectfully,

Dorothy Jacks, CFA, AAS

Palm Beach County Property Appraiser

We Value What You Value

Business Tangible Personal Property

Tangible Personal Property is equipment used in a business and includes furniture, fixtures, machinery, tools, appliances, signs, leasehold improvements, supplies, leased equipment, and other assets. It is taxed at the same rate as real property.

All tangible personal property must be reported. Florida law allows an exemption up to $25,000 for business tangible assets. Businesses with tangible personal property assets valued at more than $25,000 are subject to ad valorem taxes, and those with less than $25,000 in assets are exempt from ad valorem taxes.

All businesses must file an initial Tangible Personal Property Tax Return (DR-405) their first year of operation. Afterwards, all businesses are required to file a Tangible Personal Property Tax Return (E File or Form DR-405) annually unless the value of the personal property was under $25,000 AND they received a yellow postcard from our office that the requirement to file has been waived. If a business purchases additional assets that increase the total value of the assets over $25,000, they are required to file a return.

The statutory deadline to file a return without an extension is April 1. All extension requests must be received by 5 p.m. on March 31 to be considered for approval. Failure to file will result in the loss of the exemption and the assessment of penalties per Florida Statutes, Sections 193.072 and 193.073. Our office will not waive penalties for any returns filed after April 1 without an extension, which you can fill out here PAPA - PAPA - DR-405 Extension Request.

Save time, paper, and postage by E filing. If you need a paper form, you can download the DR-405 on our website. If you have any questions about reporting personal property, filing extensions, tangible E filing, or the $25,000 tangible exemption, please call our office at 561.355.2896 or email mytpp@pbcpao.gov.

Property Appraiser’s Office Annual

Scholarship Awards Program

The 33rd Annual Palm Beach County Property Appraiser’s Scholarship is now accepting applications. Six college scholarships of $1,500 each will be awarded to graduating high school seniors who plan to attend a higher education institution full time, regardless of interest or major. The deadline to apply is March 31, 2026.

To be eligible for a scholarship award, a student must be a resident of Palm Beach County, have a minimum of 3.0 GPA, and plan to attend an accredited higher-education institution (college or community college).

In addition to receiving a scholarship, each recipient will be offered an opportunity for a paid summer internship in the Property Appraiser's Office.

Since 1994, the Palm Beach County Property Appraiser's Office has awarded $188,000 in college scholarships. The program is particularly special to the Property Appraiser’s Office because the scholarships are completely funded by employee donations.

For more information, call 561.355.3230 or visit https://pbcpao.gov/scholarship-awards.htm.

We Value What You Value

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