Ad Valorem Taxes (Latin for "according to worth") are taxes based upon the assessed value of three types of property:
- Real Estate
- Tangible Personal Property
- Centrally Assessed
Tax statements are mailed on or about November 1st each year. Discounts are available for early payment. Taxes become delinquent on April 1st, at which time interest and advertising is added to the gross tax. For real estate, the interest is 3% for April and May, plus advertising of $6.00. If real estate taxes remain unpaid, a Tax Certificate Sale is held on or before June 1st. For personal property taxes, the interest is 1.5% per month, plus a $10.00 collection fee and advertising of $3.00. If personal property taxes remain unpaid, a warrant may be issued authorizing the tax collector to levy and seize personal property which may then be sold at a public auction to satisfy the unpaid taxes.
Real Estate: Real estate consists of all lands, buildings, structures, fixtures and all other improvements to land. The terms "land", "real estate", "realty" and "real property" may be used interchangeably. The assessed value of real property is an annual determination of the just or fair market value of the property established by the Property Appraiser. The taxable value is determined by taking the assessed value minus the amount of any applicable exemptions. Homestead exemption is available for taxpayers whose home is their primary and permanent residence, such that whenever absent, he or she has the intention of returning. A person may only have one permanent residence at a time. For Real Estate Exemption Questions, call 941.748.8208.
Tangible Personal Property: Tangible Personal Property consists of equipment used in conducting a business, such as machinery, office equipment, furniture and fixtures. In addition, all attachments to a mobile home, such as an air conditioner, cabana, screened porch, utility room and carport are classified as Tangible Personal Property. Businesses must file an annual Personal Property Tax Return with the Property Appraiser which lists the furniture and equipment being used by their business or in their rental property. If a business fails to file their annual tax return, a non-discountable assessment penalty is added to their tax bill. Contact the Property Appraiser at 941.748.8208 concerning other penalties that may be assessed based upon an incomplete tax return.
In January 2008 Florida voters approved Amendment 1, which includes the authorization of an exemption for up to $25,000 on tangible personal property. This includes mobile home attachments in rental parks. Refer to Frequently Asked Questions (FAQ’s) on Tangible Personal Property and Mobile Homes for additional information. For Personal Property Exemption Questions, call 941.748.8208.
Central Assessed Taxes:Taxes assessed to railroads utilizing portions of land in Manatee County are billed in the same manner as Personal Property Taxes, and subject to the same delinquent collection methods.
The office of the Property Appraiser establishes the value of the property. The Board of County Commissioners, School Board, City Councils and other levying bodies set the millage rates. One mill equals $1 per $1,000 of property value. Using these values and allowing for exemptions, the tax roll is completed by the Property Appraiser and approved by the Department of Revenue.
Ad Valorem Tax = (Assessment - Exemptions) X Millage Rate(s)