There is quite a bit of important tax information to know when living in the greater West Palm Beach area and in Florida as well.
If you have specific questions or concerns, contact your local advisors at the telephone numbers listed below.
Tax Information
The Tax Collector has five permanent office
locations and two mobile offices at convenient
sites throughout the county. Phone 355-2622
for office addresses and hours. The Tax Collector collects
property taxes for every government agency in Palm Beach
County that has the authority to levy taxes. Ad valorem and
non-ad valorem assessments are due on November 1, or as
soon after as the tax roll is certified.
Discounts for property tax payments are allowed at the rate of 4
percent in November (or within 30 days from when the notice is
mailed), 3 percent in December, 2 percent in January and 1
percent in February.
Exemptions such as homestead, disability and widow/widower
are filed with the Property Appraiser’s Office. Call the Property
Appraiser at 355-2866 for filing deadlines.
Both, taxes and non-ad valorem assessments become delinquent
April 1, at which time 3 percent interest and advertising costs are
added. The amount due on delinquent payments is determined
by date received, not by postmark. Those liable for tangible
personal property taxes must file their return with the Property
Appraiser’s Office by April 1 or face penalties.
County Taxes
Ad Valorem Millage Rate (1998 Avg.)
County - 4.6000
Special Districts - 5.7990
Schools - 9.682
Total (+ Municipalities) 20.081
Local option gasoline tax - $.06 per gallon
Local option sales tax - none
Local option utility tax - 9%
State Taxes
Corporate income - 5.5%
Individual income - none
Gasoline - $.125 per gallon
Gift tax - none
Inheritance Tax
The state does not levy an inheritance tax
except that part of the federal tax returned to the state by the
federal government.
Intangible Tax
Florida has an intangible tax on stocks, bonds
and other securities at the rate of $1 to $1.50 per $1,000 of
valuation. This tax is assessed on the value of your assets
beginning January 1 of each year. The tax is delinquent if not
paid by July 1, and returns must be filed by June 30. For more
information about Florida’s Intangible Tax, call the Department of
Revenue at 1-800-352-3671 or 561-640-2800.
Personal Income Tax
Florida is one of the few states that
does not tax personal income. Such a tax is prohibited in the
state constitution.
Retail Sales Tax
Florida levies a state sales tax of 6 percent.
Food, medicine and professional services are exempt.
Tangible Tax
Florida’s tangible tax is applied to business’
personal property. A penalty of 25 percent of the value is
assessed for failure to file a return. For more information, call
the Tax Collector’s Office at 355-2274, or the Property
Appraiser at 355-3230.
