Tangible Personal Property

Tangible Personal Property is everything other than real estate used in a business. It includes furniture, fixtures, tools, machinery, household appliances, signs, equipment, leasehold improvements, supplies, leased equipment and any other equipment used in a business or to earn income. Personal household goods NOT used in a rental are NOT subject to the personal property tax.

How do I file a return?

The DR-405 (Tangible Personal Property Tax Return) must be completed to accurately reflect the assets utilized by the business and signed by the owner or authorized agent for the business and the original form delivered to the Property Appraiser’s office.

The individual assets reported may be listed on page 2 of the DR-405, or may be listed in Excel format using the following format DR-405 Asset Detail Submission Data Specifications New! The Excel format may be delivered to our office by email or on disk. In all cases, the original DR-405 must be signed and delivered to our office.

File Online:TPP online filing is now available.

Who must file?

Anyone in possession of assets on January 1 who has a proprietorship, partnership, corporation or is a self-employed agent or contractor, must file each year. Property owners who lease, lend or rent property must also file.

Why must I file a return?

Florida Statute 193.052 requires that all Tangible Personal Property be reported each year to the Property Appraiser’s Office. Our office mails out Tangible Returns in January of each year to those our office has determined may have property to report.

If you received the form and you feel it is not applicable, return it with an explanation. Either way, the form must be returned.

If you do not receive a Tangible Personal Property Tax Return (DR-405) (Fillable PDF), you are still required to submit a return if you have assets to report and your filing requirement is not waived. To be accepted by our office, the Tangible Personal Property Tax Return (DR-405) must be dated and signed by an authorized representative.

In order for annotations/comments to show on the printed document, it is necessary when printing from Adobe Acrobat or PDF Converter Professional 4 to select the "Print with markup" option.

When do I file a return?

The deadline for filing your Tangible Personal Property Tax Return is April 1. However, in certain cases, a 30 day extension may be granted. Online Extension Request Form

Where do I file my DR-405?

Returns may be mailed to:

2001 Adams Lane
Sarasota, FL 34237

OR

Hand delivered to either of our office locations:

2001 Adams Lane
Sarasota, FL 34237

4000 S Tamiami Trail, STE 115
Venice, FL 34293

Frequently asked questions for Tangible Personal Property Click Here

Depreciation tables

Tables are finalized annually in July.  The tables are subject to change without notice prior to that date. To estimate the asset's just value, first determine the asset's appropriate economic life; then multiply the original installed cost times the corresponding index factor; and finally multiply that result by the percent found in the depreciation table.

Download 2011 Depreciation Table

Download 2010 Depreciation Schedule

Download 2009 Depreciation Schedule

Helpful hints for filing DR-405 forms

1. File the original return (form with pre-printed name and account number) received from our office no later than April 1 to avoid late filing penalties and loss of tangible exemption of up to $25,000.
2. Remember to sign and date the return. Unsigned returns are not accepted and are mailed back to the taxpayer.
3. Work with your Accountant or CPA to identify any equipment that may have been “physically removed”. List those items in the appropriate space on your return.
4. If you have an asset listing or depreciation schedule that identifies each piece of equipment, attach it to your completed form.
5. Do not use vague terms such as “various” or “same as last year”.
6. It is to your advantage to provide a breakdown of assets since depreciation on each item may vary.
7. If you sell your business please provide the new owner’s name and address.
8. Detailed information regarding filing is provided in the instructional section of the return itself.
9. If you close your business or move to a new location, please inform this office. It will enable us to keep timely, accurate records.