TPP Tax Returns are due on April 1 annually. An extension will be granted for filing a TPP Tax Return if the Extension Request Form is submitted by March 31, 2023 which extends the deadline to May 1, 2023. You can file an extension for multiple accounts using the E-File TPP Request for Extension of Filing Date Form. The E-File form and a fillable PDF version of the Extension Request will be available on-line at www.paslc.gov until March 31, 2023 at 5:00 p.m.
If you have closed or sold your business prior to the January 1 assessment date, please email your completed TPP Account Status Change Form.
The timely filing of the completed TPP Tax Return and, if applicable, the Account Status Change Form is appreciated. For accurate processing, please be sure to include the (7) digit TPP Account Number on all your submissions.
- Anyone in possession of assets on January 1 who has a proprietorship, partnership, corporation, or is a self-employed agent or contractor, is required to file a TPP Tax Return.
- Property owners who lease or rent property to others are required to file a TPP Tax Return. If a business owner has more than one location in Saint Lucie County, he/she needs to file a TPP Tax Return for each location.
- Be sure to list any equipment that has been physically removed, junked, sold, or scrapped. There is a designated space on the return for these items.
What happens if I file an erroneous or incomplete TPP Tax Return?
- The Property Appraiser’s Office will notify you via mail and/or email, a completed TPP Tax Return will be due in 30 days.
- Failure to file a completed TPP Tax Return will result in a placed assessment and/or penalties.
What happens if I do not file a TPP Tax Return?
- The assessed value will be estimated.
- The assessed value will be estimated.
- A 25% penalty will be applied to the account
What is Tangible Personal Property?
Tangible personal property is everything other than real estate that has value by itself. It includes furniture, fixtures, tools, machinery, signs, equipment, leasehold improvements, supplies, leased equipment and any other equipment used in a business.
Frequently Asked Questions About Tangible Personal Property (TPP)
Anyone in possession of assets on January 1 who has either a proprietorship, partnership, corporation or is a self-employed agent or contractor, must file each year. Property owners who lease or rent property to others must also file.
Florida Statute 193.052 requires that all tangible personal property be reported each year to the Property Appraiser’s Office. If you receive a return, it is because our office has determined that you have property to report. If you feel the form does not apply to you, return it to us with an explanation. In any case, the form must be returned to the Property Appraiser’s Office.
At the beginning of the year, a tax return (DR-405) is mailed to business owners. If you do not get a form in the mail, contact the Property Appraiser’s Office. Failure to receive a tax return does not relieve you of your obligation to file. You can also download the form online here .
If you received more than one tax return, it is because you have multiple business locations in Saint Lucie County. You must file a single return for each location.
If you believe you do not have anything to report, fill out items 1 through 9 on the return and attach an explanation of why nothing was reported. However, almost all businesses and rental properties have some assets to report, for example supplies, rented equipment, or furniture and appliances.
If you were no longer in business on January 1 of the tax year, follow this procedure:
- On your return, indicate the date you went out of business and the manner in which you disposed of your business assets. Remember, if you still have the assets, you must list them on your return.
- Sign and date the return.
- Please see the next section (Account Status Change Form)
In addition to filing a final tax return, you should complete an Account Status Change form. This is to explain what happened to the assets previously owned by your business. The form is found here .
All assets in use or in your possession, whether fully depreciated in your accounting records or not, must be reported. Also report all equipment, whether the asset is capitalized or expensed for accounting purposes.
There is no minimum value. A tangible personal property tax return must be filed on all assets. You must file an initial tax return even if your value is under $25,000.
Since rental activity is income producing, you must file a return. Items that should be listed include furniture, appliances, draperies and any other personal property used in the rental unit.
The last day to submit a return without any penalties is April 1. Penalties are applied at 5% per month or portion of a month that the return is late. A 25% penalty will be placed if a tax return is not filed and a 15% penalty can be placed for unreported assets.
You may request a 30-day extension of filing date by submitting an online request here before April 1, the last day to submit a TPP Tax Return. You must submit in writing why you are requesting the additional 15 days, and send it to the TPP Manager for review.
For your protection, consult with your realtor, attorney, or closing agent to address the issues of proration or any outstanding taxes dues, since the taxes follow the equipment. It is important to contact the Saint Lucie County Tax Collector’s Office at 772.462.1650 to verify if there are any unpaid Tangible Personal Property taxes. TPP taxes can be paid online at www.tcslc.com.
When a tax return is not filed by April 1 the Property Appraiser is authorized to place an estimated value on the property per Section 193.073(2). This assessment process does not alleviate you of the responsibility to file an accurate return.
Call the TPP Department at 772.460.3340 or come in and discuss the matter with us. If you have evidence that the appraised value is more than the actual fair market value of your property, we will welcome the opportunity to review all the pertinent facts. If after talking with us, we are unable to resolve your problem satisfactorily, you may file a petition (DR-486) to be heard by the Value Adjustment Board. You can also e-file this petition online at the Clerk of the Court’s website. .
Our office is required to maintain most current and accurate information of each property. If there is any changes to the business including legal entity name, DBA, location and/or mailing address, and phone number, complete an Account Status Change Form here and submit to our office.