Property Taxes - Tangible Personal Property

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General Information
Tangible personal property taxes are ad valorem taxes based on the values of the following three categories of property:
bulletBusinesses :  furnishings, fixtures, signs, supplies, and equipment used in the operation of a business.
bulletMobile Home Attachments (when the land is rented):  all attachments and additions, such as a carport, utility shed, Florida room or screened porch.
bulletRental Furnishings:  furnishings and appliances provided in the rental property.
With the exception of mobile home attachments, tangible personal property is normally assessed and taxed on the basis of information supplied on a tax return filled out by the owner of the property.  This form is filed with the Property Appraiser between January 1st and April 1st of each year.  Failure to file or late filing of a tax return is subject to penalties.  If you have any questions regarding a tax return, contact the Property Appraiser at (941) 861-8200.
 
* Effective January 1, 2008, tangible personal property values are subject to a $25,000 exemption if a return is filed with the Property Appraiser.  For more information from the property appraiser's web site, click here.
 
bullet When must tangible taxes be paid?
 
bullet What happens when tangible taxes are not paid?
 
bullet Who is responsible for the tax if the property is bought or sold?
 
 
 
   
   
   

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When must tangible taxes be paid?

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bulletTangible taxes must be paid at the same time as real estate taxes.  Discounts are accepted according to the POSTMARK of your payment.  Tax bills are mailed out in November of each year with the following discounts in effect for early payment:
   
 
bullet4% if paid in November
 
bullet3% if paid in December
 
bullet2% if paid in January
 
bullet1% if paid in February
 
bulletNo discount in March
   
bulletIf your taxes are at least $100.00, you may choose to pay next year's taxes in installments.  For more information click here, email Info@SarasotaTaxCollector.com or call (941) 861-8340, option 3.
   
   
   
What happens when tangible taxes are not paid?

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bulletBeginning April 1st, unpaid accounts accrue a $10 delinquent penalty, a 20% delinquent collection fee and interest of 1 1/2% per month. According to Florida law, the names of persons or businesses with unpaid tangible personal property taxes are advertised in the newspaper.  The cost of the advertising is added to the delinquent tax bill.  A written lien (also called a warrant) is then issued on all unpaid accounts and notification is sent to the owner named on the tax roll.
   
bulletIf taxes are still not paid, the Tax Collector must petition the Circuit Court to have a judge "confirm" a warrant that authorizes the Tax Collector to seize and sell the personal property to pay the taxes. The court costs are added to the delinquent tax bill. If the property cannot be located or is sold for less than the amount due, all other personal property of the taxpayer is subject to seizure and sale.
   
bulletIf you are having difficulty paying your tangible taxes, call (941) 861-8300 to determine any options you may have.
   
   
   
Who is responsible for the tax if the property is bought or sold?

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bulletThe tangible personal property tax bill is issued to the owner of the property as of January 1 of the tax year assessed.  This owner is responsible for the tax bill for that year.  Any proration of taxes must be handled between the buyer and seller.
   
bulletEven though the warrant is issued in the owner's name, it is important to note that the "lien" attaches to the tangible property.  If taxes remain unpaid, this lien survives the sale or transfer of the property.  Therefore, it is very important to verify that tangible taxes are paid prior to the purchase of a business, mobile home or rental property.