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Tangible Personal Property

For purposes of property taxation, personal property is divided into these categories:

1. Tangible Personal Property
   All goods, chattels, and other articles of value capable of manual possession whose chief value is intrinsic to the article itself. "Inventory" and "Household Goods" are expressly excluded from this definition.
    
2. Household Goods
   Apparel, furniture, appliances, computers, chairs and other items usually found in the home and used for the comfort of the owner and family. Household goods are exempt from property taxation.
    
3. Inventory 
   Items of inventory are exempt from property taxation. Inventory generally means goods, wares, and merchandise held by a business for sale.

Some items of personal property are not taxable such as: 

• Licensed motor vehicles
• Boats
• Airplanes
• Trailers
• Trailer coaches
• Certain mobile homes as defined by law

Taxable items are assessed at just value based on an annual Tangible Personal Property Tax form return that must be filed by April 1. Returns filed after the due date will be assessed a penalty of total taxes levied at a rate of 5% for each month after April 1st to a maximum of 25%.  For example:

• Returns filed (or postmarked) after due date through April 30 will receive a 5% penalty
• Returns filed (or postmarked) May 1 through May 31 will receive a 10% penalty
• Returns filed (or postmarked) June 1 through June 30 will receive a 15% penalty
• Returns filed (or postmarked) July 1 through July 31 will receive a 20% penalty
• Returns filed (or postmarked) August 1 and after will receive a 25% penalty

Submit the application at one of our two offices:

• Downtown Miami Government Center
• South Dade Government Center

The year of purchase, original cost, and the taxpayer's estimate of just value are required on the return. Valuation tables are applied to the costs reported on the Tangible Personal Property Return to arrive at fair market value. The property appraiser has the duty to discover omissions and to place value upon personal property.

The amount of tax due is calculated by multiplying the value of the property by the tax rate set by the taxing authorities. The tax bill is mailed to the taxpayer, usually by November. Any questions related to collection of taxes for personal property should be referred to the Tax Collector's office.

• After the expiration of the deadline on the Notice, property owners cannot contest value unless a petition was filed earlier and a hearing is pending before the Value Adjustment Board.

The payment must be made to the tax collector by April 1 of the following year. There are specific discounts allowed for early payment and penalties for delinquency, failure to file, and for omitted property. 

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