Hendry Property Appraiser
Hendry County Property Appraiser
H O M E

Record Search
Sales Report
GIS Map
TAX Estimator

HB 909
Budget Report
Homestead Fraud

General Info
Exemptions
T P P
Agriculture Info
Tax Rates
Tax Roll Data
F A Q
Important Dates

Contact Us
Web Links
Important Emails
Employment
Download Forms

 

Tangible Personal Property (T P P)


1. Identifying Tangible Property
2. All Florida Businesses Required to File Dept of Revenue Tangible Personal Property Return (DR-405)
3. Completing your DR-405 & Receiving your $25,000 Exemption
4. Filing for Tangible Personal Property Extension
5. Don’t Delay….Avoid Penalties
6. Bought or Opened Business
7. Sold or Closed Business
8. Truth In Millage (TRIM)
9. Hints and Suggestions



1. Identifying Tangible Property
Tangible Personal Property is non real estate commercial items.  It includes such items as furniture, fixtures, tools, machinery, household appliances, signs, equipment, leasehold improvements, supplies, leased equipment and any other equipment used in a business or to earn income.


2. All Florida Businesses Required to File Dept of Revenue Tangible Personal Property Return (DR-405)
If any of the criteria from paragraph 1 applies an initial DR-405 form MUST be filed with the Property Appraiser’s Office, regardless of the purchase price. If you are an active business or a potential new business you will receive a DR-405 or an Exemption Renewal card (Blue Card).  If you feel this is not applicable, return it with an explanation and your contact information.  Regardless, the DR-405 or Blue Card MUST BE RETURNED.  Failure to receive a Personal Property Tax Return (DR-405) does not relieve you of your obligation to file and may result in a penalty.  See Florida Statute 193.052 for additional information.


 3. Completing your DR-405 & Receiving your $25,000 Exemption
Along with your DR-405 an equipment listing will be supplied. Please review the list, note any equipment which has been removed and add any new equipment. Return the list with your signed DR-405 by April 1st. All DR-405’s received before or on the April 1st deadline qualify to receive a $25,000 exemption.
Please note: To receive your exemption you MUST file an initial DR-405.

Click here to download a Sample DR-405 form

If you have more than one location, the equipment of each should be listed separately on the appropriate DR-405.  If you feel you do not have anything to report, fill out items 1 – 9a on the DR-405 and attach an explanation of why nothing was reported.  However, most businesses and rental units have some equipment to report even if they are only such items as supplies, rented equipment or household goods.


4. Filing for Tangible Personal Property Extension
The Property Appraiser can grant a 30 day extension (up to May 1st) if requested. Please use the Tangible Extension Request for DR-405 Tangible Tax Return form to submit your request. Request is due in our office 10 days prior to deadline of April 1st.  See Florida Statute 193.063 for additional information. 

Click here to download the Tangible Extension Request for DR-405 Tangible Tax Return form


5. Don’t Delay….Avoid Penalties
After April 1st, state law requires that penalties be applied at 5% per month up to 25%, that the DR-405 is late.  This includes new businesses and first time filers.  Failure to file a DR-405 will result in an estimated equipment value by the Property Appraiser’s Office.  See Florida Statute 193.072 for more information.   


6. Bought or Opened Business
If you are a new business or have purchased a business on or after January 1st you will need to file an initial return. If you feel you should not be required to file please contact our office. If you have purchased a business please be aware there maybe outstanding tax bills on the entity prior to purchase.  You should consult with your Realtor, Attorney, or Closing Agent to avoid problems in this area.  Be informed that any business with outstanding tax bills may be pursued by the Tax Collector.  They may seize and sell enough of the purchased property to satisfy the tax lien.


7. Sold or Closed Business
If you have CLOSED your business completely, a DR-405 is required to be filed.  If you sold your business line item 9 is required to be filled out along with contact information of yourself and the person(s) to which you sold the business to.  We will contact you or the new owner if we need further details.  You may also contact our office should you have further questions. 


8. Truth In Millage (TRIM)
If you disagree with our assessed value on your TRIM notice, which you will receive in August, please contact us. We are willing to review your unique circumstance.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 (VAB). However, to be heard by the VAB you must have a current DR-405 on file. See Florida Statute 194.034 (F) for more information.


9.  HINTS AND SUGGESTIONS

    ·         Review instruction sheet enclosed with your DR405 concerning filing a DR-405.

    ·         File the original DR-405 from this office with name and account number preprinted, before April 1st.  Be sure to sign and date your DR-405.

    ·       If you have an equipment listing or depreciation schedule that identifies each piece of equipment, attach it to your completed DR-405. It is to your advantage to provide a breakdown of equipment since depreciation on items may vary.

    · If you have an accountant or CPA firm, work with them to identify any equipment that may have been new purchases, physically removed, replaced, donated, transferred or is under a lease. Please verify with your accountant or CPA firm that your DR-405 has been submitted.

    ·     Do not use vague terms such as "various" to describe assets or “same as last year”, your DR-405 could be considered incomplete and sent back to you for completion.

    ·         If a Tax Agent files a Tax Return on your behalf you must send a signed letter of authorization by April 1st, without it, we cannot accept your DR-405.

    ·         If you sell your business, go out of business, or move to a new location, please inform us so you can avoid undue penalties and possible liens.


Please visit our Questions & Answers page ( F A Q ) to further assist you.

^^Top

   
 
 

Disclaimer

This information was derived from data which was compiled by the Hendry County Property Appraiser's Office solely for the governmental purpose of property assessment. This information should not be relied upon by anyone as a determination of the ownership of property or market value. No warranties, expressed or implied, are provided for the accuracy of the data herein, it's use, or it's interpretation. Although it is periodically updated, this information may not reflect the data currently on file in the Property Appraiser's office. The assessed values are NOT certified values and therefore are subject to change before being finalized for ad valorem assessment purposes.


Powered by: GrizzlyLogic.com © Copyright 2001 © All Rights Reserved - Hendry County Property Appraiser