Charlotte County Property Appraiser
"

Tangible Personal Property

Tangible personal property is all goods, chattels, and other articles of value.   It includes: machinery, equipment, furniture, fixtures, signs, window air conditioners, supplies, leased, loaned, borrowed, or rented equipment used in a business, mobile home attachments on rented land (carport, screened porch, Florida room, etc.) furniture and appliances in rental properties.

Who Is Required To File

Except for owners of mobile home attachments on rented land, every person, firm, corporation, etc. owning tangible personal property used in a business, commercial venture, or rental property, is required to file an initial return with the Property Appraiser. A return is not required for mobile home attachments.

$25,000 Tangible Personal Property Exemption

Amendment 1, approved on January 29, 2008, allows a $25,000 exemption for tangible personal property. Filing a tangible personal property tax return (DR405) is considered the application for the $25,000 exemption.

Accordingly, a return must be filed by April 1st to receive the exemption. A return filed after the April 1 deadline does not qualify for the exemption.

When To File

All tangible personal property returns must be filed between January 1 and April 1, to avoid penalties and to qualify for an exemption up to $25,000 of value. After the initial timely filed return, no return is required on existing accounts if the value of assets is less than $25,000.

Penalties will be imposed for failing to file, and improper or late filing of the return.

  1. Failure to file: 25%
  2. Filing after due date: 5% per month
  3. Unreported property: 15% of tax attributable to omitted property.

Failure to file a return or to otherwise properly submit the property for taxation does not relieve the taxpayer of any requirement to pay all taxes assessed against the property.

Filing Extension

Section 193.063, Florida Statutes, states, "The property appraiser shall grant an extension for the filing of a tangible personal property tax return for 30 days and may, at her or his discretion, grant an additional extension for the filing of a tangible personal property tax return for up to 15 additional days. A request for extension must be made in time for the property appraiser to consider the request and act on it before the regular due date of the return. However, a property appraiser may not require that a request for extension be made more than 10 days before the due date of the return. A request for extension, at the option of the property appraiser, shall include any or all of the following: the name of the taxable entity, the tax identification number of the taxable entity, and the reason a discretionary extension should be granted".

Accordingly, a 30 day extension will be granted upon a timely written request by the taxpayer. However, to receive the additional 15 days, a 45 day extension, the reason must be stated on the request form.

If today's date is no later than March 26th, complete the 30 day or 45 day extension form and send by email, fax or mail to the address on the form.

April 1 is the deadline for filing a Tangible Personal Property Tax Return.

Please direct questions concerning tangible personal property to this office at tpp@ccappraiser.com or (941) 743-1476.