Tangible Personal Property Tax Return General Instructions
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2TANGIBLE PERSONAL PROPERTY TAX RETURN GENERAL INSTRUCTIONS
Complete this form if you own property used for commercial purposes
Within each section, group your assets by year of acquisition. List each
that is not included in the assessed value of your business’ real property.
item of property separately except for “classes” of personal property. A
This may include office furniture, computers, tools, supplies, machines,
class is a group of items substantially similar in function, use, and age.
and leasehold improvements. Return this form to your property
Do not use the terms “VARIOUS,” “NA,” “NOT APPLICABLE” or “SAME AS
LAST YEAR” in any of the columns. These are not adequate responses and
appraiser’s office by April 1. Keep a copy for your records.
may subject you to penalties for failure to file.
Report your summary totals on page 1. Use page 2 or an attached,
itemized list with original cost and date acquired for each item to provide
ORIGINAL INSTALLED COST
the details for each category.
The original cost must include the total original installed cost of your
Each return is eligible for an exemption up to $25,000. By filing this form
equipment, before any allowance for depreciation. Include sales tax,
on time you automatically apply for the exemption.
freight-in, handling, and installation costs. If you deducted a trade-in from
the invoice price, enter the invoice price. Add back investment credits
WHAT TO REPORT
taken for federal income tax if you deducted those from the original cost.
Include on your return:
Include all fully depreciated items at original cost, whether written off or
1.) Tangible Personal Property. Goods, chattels, and other articles of
not.
value (except certain vehicles) that can be manually possessed and
whose chief value is intrinsic to the article itself. More specifically,
ASSETS PHYSICALLY REMOVED
all furniture, fixtures, equipment and supplies used in your
If you physically removed assets last year, complete the columns in the
business or rental property.
first section of page 2. If you sold, traded, or gave property to another
2.) Inventory held for lease.
Examples:
equipment, furniture, or
business or person, include the name in the last column.
fixtures after their first lease or rental.
3.) Equipment on some vehicles.
Examples:
power cranes, air
LEASED, LOANED, AND RENTED EQUIPMENT
compressors, and other equipment used primarily as a tool rather
If you borrowed, rented, or leased equipment from others, enter the
than a hauling vehicle.
name and address of the owner or lessor in the second section of page 2.
4.) Property personally owned, but used in the business.
Include a description of the equipment, year you acquired it, year of
5.) Fully depreciated items, whether written off or not. Report at
manufacture (if known), the monthly rent, the amount it would have
original installed cost.
originally cost had you bought it new, and indicate if you have an option to
Do not include:
buy the equipment at the end of the term.
1.) Intangible Personal Property. Examples: money, all evidences of
Farm, Grove, and Dairy Equipment
debt owed to the taxpayer, all evidence of ownership in a
st
List all types of agricultural equipment you owned on January 1
. Describe
corporation, etc…
property by type, manufacturer, model number, and year acquired.
2.) Household Goods.
Examples: wearing apparel, appliances,
Examples: bulldozers, draglines, mowers, balers, tractors, all types of dairy
furniture, and other items ordinarily found in the home and used
equipment, pumps, irrigation pipe – show feet of main line and sprinklers,
for the comfort of the owner and his family, and not used for
hand and power sprayers, heaters, discs, fertilizer distributors.
commercial purposes.
3.) Most automobiles, trucks, and other licensed vehicles.
See 3
Hotel, Motel, Apartment and Rental Units (Household Goods)
above.
List all household goods. Examples: furniture, appliances, and equipment
4.) Inventory that is for sale as part of your business. Items commonly
used in rental or other commercial property.
Both residents and
referred to as goods, wares, and merchandise that are held for sale
nonresidents must report if a house, condominium, apartment, etc. is
or lease to customers.
rented at any time during the year.
VALUATION OF PERSONAL PROPERTY
Mobile Home Attachments
st
Report all property located in this county on January 1
at 100% of the
For each type of mobile home attachment (awnings, carports, patio roofs,
original total cost.
Include sales tax, transportation, handling, and
trailer covers, screened porches or rooms, cabanas, open porches, utility
installation charges if incurred. Report the total cost of all assets.
st
rooms, etc.), enter the number of items you owned on January 1
, the
year of purchase, the size (length X width), and the original installed cost.
You may enter your estimate of the current fair market value of the
property in the columns labeled “Taxpayer’s Estimate of Fair Market
Leasehold Improvements, Physical Modifications to Leased Property
Value.” Enter only UNADJUSTED figures in “Original Installed Cost”
If you have made any improvements, including modifications and
columns.
additions, to property that you leased, list the original cost of the
improvements. Group them by type and year of installation. Examples:
LOCATION OF PERSONAL PROPERTY
carpeting, paneling, shelving, cabinets. ATTACH AN ITEMIZED LIST OR
You must file a single return for each site in the county where you transact
DEPRECIATION SCHEDULE OF THE INDIVIDUAL IMPROVEMENTS.
business. If you have freestanding property at multiple sites other than
where you transact business, file a separate, but single, return for all such
Owned by you but Rented to Another
property located in the county.
Additional forms will be mailed on
Enter any equipment you own that is on a loan, rental, or lease basis to
request; contact the county property appraiser’s office.
others.
Freestanding property at multiple sites includes vending and amusement
Supplies
machines, LP/propane tanks, utility and cable company property,
Enter the average cost of supplies that are on hand. Include expensed
billboards, leased equipment, and similar property that is not customarily
supplies, such as stationery and janitorial supplies, linens, and silverware,
located in the offices, stores, or plants of the owner, but is placed
which you may not have recorded separately on your books. Include
throughout the county.
items you carry in your inventory account but do not meet the definition
of “inventory” subject to exemption.
EXTENSIONS FOR FILING
If you ask, the property appraiser will give you an extension for 30 days
If you have any questions, please contact our office.
and may grant an additional 15 days. You must ask for the extension in
time for the property appraiser to consider the request and act on it
Morgan B. Gilreath, Jr., M.A., A.S.A., C.F.A.
st
before April 1
.
Volusia County Property Appraiser
Tangible Personal Property Department
PENALTIES
250 North Beach Street, Room 109
Failure to file – 25% of the total tax levied against the property
Daytona Beach, Florida 32114
for each year that no return is filed
(386) 254-4621 - FAX (386) 239-7717
Filing late – 5% of the total tax levied against the property
covered by that return for each year, each month, and part of a
RELATED FLORIDA TAX LAWS
month, that a return is late, but not more than 25% of the total
tax
st
192.042, F.S.
Assessment Date – January 1
.
Unlisted property – 15% of the tax attributable to the omitted
193.052, F.S.
Filing requirement
property
st
193.062, F.S.
Filing Date – April 1
.
193.063, F.S.
Extensions for filing
SPECIFIC INSTRUCTIONS
193.072, F.S.
Penalties
List all items of furniture, fixtures, all machinery, equipment, supplies, and
193.074, F.S.
Confidentiality
certain types of equipment attached to mobile homes. For each item, you
195.027(4), F.S.
Return Requirements
may report your estimate of the current fair market value and condition of
196.183, F.S.
$25,000 Exemption
the item (good, average, and poor). Enter all expensed items at original
837.06, F.S.
False Official Statements
installed cost.
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