Tangible Personal Property (TPP) Exemption
What is the TPP Exemption?
In order to qualify for the TPP Exemption, businesses must file a DR-405, tangible personal property tax return with the Property Appraiser’s Office by April 1st. New businesses must file an initial tax return by April 1st to receive the exemption. Click HERE for the tax return & Instructions. Even if you believe the value of your assets are less than $25,000, you must file an initial tax return with our office to receive your TPP exemption. Failure to file a tax return constitutes failure to apply for the exemption and may result in loss of the exemption and assessment of penalties. The exemption is applied to the first $25,000 of taxable value on your tangible personal property assets. Every business that has assets exceeding $25,000 as of January 1st, must file a TPP tax return with the Property Appraiser’s office by April 1st. Once you have filed an initial return, as long as the value of your business assets does not exceed $25,000, you are not required to file a return in subsequent years.
NOTE: If your value was previously under $25,000 but now exceeds this amount as of January 1st in any subsequent year, you MUST file a tangible tax return by April 1st. You may contact our Office and request a form or download one from our website for your specific account.
915 4th Ave. W.
Bradenton, FL 34205
Office Hours: 8:30 A.M. – 5:00 P.M.
Monday – Friday