Tangible Personal Property Tax is an ad valorem assessment against the furniture, fixtures, and equipment located in businesses. It also applies to structural additions to mobile homes not taxed as real property. The Tax Collector is responsible for collecting tangible personal property tax. Changes (e.g., name, address, location, and assessed value) to the tax roll are processed through the Property Appraiser’s office.
Taxes are levied in Hillsborough County by the taxing authorities. The Property Appraiser establishes the taxable value of tangible personal property. The millage, or rate of taxation, is set by the Board of County Commissioners, School Board, City Council and governing bodies of other independent special taxing districts and authorities. The millage is set by calculating a rate per $1,000 valuation that will produce their budget needs from ad valorem taxes. One mill represents $1 of tax on each $1,000 of taxable valuation.
Assessments are as of January 1 of the current calendar year and are due November 1 or as soon as the Property Appraiser certifies the tax roll to the Tax Collector. According to Florida Statute 197.122, all property owners have the responsibility to know the amount of tax due and to pay the taxes before April 1 of the following year.
Visit the Hillsborough County Property Appraiser’s website for information on Tangible Taxes.