Tangible personal property is everything other than real estate that is used in a business to produce income and that has value by itself. It includes such depreciating assets as furniture, fixtures, tools, machinery, household appliances, signs, equipment, leasehold improvements, supplies, and leased equipment.

All businesses must file an initial Tangible Personal Property Tax Return their first year of operation. 

All tangible personal property must be reported. Business tangible assets valued at more than $25,000 are subject to ad valorem taxes.

At the beginning of each year, a filing letter is mailed to all property owners who filed a return the previous year, applied for an occupational license, started or purchased a business. Failure to receive this letter does not excuse a person from filing or the penalties levied on late returns.

You must file a 2024 Tangible Personal Property Return if:

  • The value of your property is more than $25,000 OR
  • You are a new business to Seminole County and it is your initial filing

You may not be required to file a Tangible Personal Property Return for 2024 if:

  • You received a waiver from our office and the value of your property remains at $25,000 or less on January 1st each year

Our office now allows for electronic filing of your TPP returns. Visit tpp.scpafl.org You can use our e-File system to:

  • Download a prepopulated, fillable return
  • eFile your TPP return (access code required)
  • Request an access code
  • Electronically sign your return
  • Request a filing extension
  • Submit a 'Business Closure' request

The filing deadline is April 1st each year.

Late filed returns are subject to penalties of 5% per month up to five months or 25%.

Click here to visit our e-file system and request a filing extension.

There is a $25,000 exemption for Tangible Personal Property. Accordingly, there is a filing requirement of a Tangible Personal Property Return for exemption eligibility.

You must file at least one year's return by April 1st (of the tax year) in order to receive the exemption (or within the applicable application deadline extension period).

This $25,000 exemption does not apply to mobile homes assessed as Tangible Personal Property.

Failure to file a return constitutes a failure to apply for the exemption.

If you file late, you can be assessed a 5% per month penalty and if you were required to file a return after the tax notices are sent but did not, you may have to pay a penalty of 25% of the total tax levied against the property for each year that you did not file, calculated without benefit of the exemption. If you claim more exemptions than allowed, the penalty is the taxes exempted because of the wrongful claim plus 15% interest each year and a penalty of 50% of the taxes exempted. See section 196.183, Florida Statutes.

A return must be filed for each location within the county where the owner transacts business. Freestanding property placed at multiple sites, other than where the owner transacts business, must have a single return filed and will receive one $25,000 exemption (examples: vending and amusement machines, LP/propane tanks, utility and cable company property, billboards, and leased equipment.)

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