Tangible Personal Property Taxes
Tangible Personal Property Tax is an Ad Valorem tax assessed against the furniture, fixtures, and equipment located in businesses and rental properties. Tangible Personal Property Tax also applies to structural additions of a mobile home.
The assessed value of the tangible personal property is determined by the property appraiser. The assessment is based on a January 1 status. If a business was open, a unit was rented or a mobile home was owned on January 1, an assessment will be made. There is no Statutory provision for pro-ration in the event of a mid-year sale, closure or liquidation.
Tangible Personal Property taxpayers are to submit a Tangible Tax Return to the Flagler County Property Appraiser’s Office annually, prior to April 1, to avoid a penalty and possibly be eligible for the Amendment 1 Exemption of up to $25,000.
It is the taxpayer’s responsibility to notify the Property Appraiser’s office of any changes to the tax roll, such as name, address, location, addition or deletion of tangible personal property.
For questions concerning assessments or filing information, please contact the Flagler County Property Appraiser at (386) 313-4150 or at their website at Flagler County Property Appraiser.
Business closings should be reported to the Property Appraiser’s office. Existing businesses sold during the year present potential issues for both the buyer and the seller if proper research is not performed prior to closing. Some title companies do not include the tangible assets of a business in the title search. Be sure to ask your realtor, attorney, or closing agent to verify this has been done.
Tax Collector Responsibility
The Tax Collector is responsible for mailing the tax notices and collecting all taxes due. Tax notices are mailed out in November of each year with payment due by March 31.
Unpaid taxes become delinquent on April 1. Per Florida Statute 197.413, If taxes are not paid, warrants are issued prior to April 30th of the next year on all unpaid tangible personal property taxes. Additional penalties, interest, advertising and collection costs are added to the total due.
The Tax Warrant issued for unpaid TPP taxes is against the January 1st owner of the business, but this Warrant survives the sale or transfer of the property and may be seized from the new owner to satisfy the unpaid delinquent taxes.
This office has engaged the services of a third party vendor to collect delinquent tangible tax warrants. The Tax Collector may levy/seize and sell personal property as required by the Florida Statutes through a court order.