Personal Property Tax??

[Coast is Clear]

After owning a rental house in Santa Rosa Beach for going on our third year I just received a notice from SoWal tax office asking me to list all the assets in the house both in terms of new cost and estimated current value. I am assuming that this is for some tax they want to charge, but this is completely new to me.

Can a anyone give me an idea on what this is, and ballpark on what amount of tax I might be expecting for an average sized house?:shock:

 

[SGB]

No worries. Same thing happened to us last year. Fill out the form and send it in. Put in the value of the things in your rental with today's value. I used what I thought I could sell it for today. This year I got the bill along with the usual property taxes. I think it was less than $70. When we first received the form I thought I'd have to pay penalties etc on not getting it in, in previous years, but they don't do that.

 

[Coast is Clear]

Thanks for the feedback. Did not want another financial surprise...:clap_1:

 

[Chief Deputy TC]

The document you recieved is from the Walton Co. Property Appraiser's Office , and is a tangible tax return.

Tangible Personal Property taxes are based on the value of property, which is broken into three categories:
1. Business?Furnishings, fixtures, and any equipment used in the operation of a business.
2. Household Goods of a Rental: Any furnishings and/or appliances provided in a rental property.
3. Mobile Homes: (Only when the land on which the home sits upon is rented). All attachments and/or additions, such as, carports, sheds, Florida room, screened porch, or air conditioner unit.

With the exception of mobile home attachments, tangible personal property is normally assessed on the basis of information supplied on the tax return filed by the owner with the Property Appraiser?s Office. Failure to file or late filing can result in a penalty being assessed by the Property Appraiser?s Office.
If you have questions regarding a tax return, contact the Walton County Property Appraiser's Office at 850-892-8123.

You may visit the tax collector's office website at www.waltontaxcollector.com to learn more about this subject, or the property appraiser site at http://www.waltonpa.com/.

Cory Godwin
Chief Deputy Tax Collector