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Monroe County Property Appraiser Office
Honorable Scott P. Russell, CFA, RES, AAS, PPS, CCF
Welcome to the home of TPP Filing for Monroe County Florida!
Tangible Personal Property (TPP) consists of all goods, chattels and other articles of value capable of manual possession, whose chief value is intrinsic to the article itself. Inventory for sale and household goods held for comfort are expressly excluded from this definition. Anyone who owns TPP on January 1st and who has a proprietorship, partnership, or corporation or is a self-employed agent or a contractor must file a TPP Return (Form DR-405) with the property appraiser by April 1st of each year (section 193.062, F.S.) or the first business day, should the due date fall on a weekend or holiday. Property owners who lease, lend or rent property must also file. The costs listed on the return are utilized in the valuation of the property.
- Each return is eligible for an exemption up to $25,000. By filing on time, you automatically apply for the exemption. If you do not file on time, Florida law provides for the loss of the $25,000 exemption.
- Failure to File - Failure to file a return results in a 25% penalty levied against the property for each year no file is returned. In addition, the owner of tangible personal property who fails to make a return as required by law will not be entitled to challenge the assessment.
- Late Filing – Filing a return late will result in a 5% penalty of the total tax levied against the property covered by that return for each year, each month, and part of a month, that return is late. This penalty will not exceed more than 25% of the total tax. If you need additional time, you may request a 30-day extension from the property appraiser. You must request this extension in time for the property appraiser to consider it before the April 1, deadline.
- Unlisted Property – For failing to report property, a 15% penalty of the tax attributable to the omitted property will be levied.
For additional information see our FAQ.
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