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.
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?
Section 193.052, Florida Statutes, requires that all Tangible Personal Property be reported each year to the Property Appraiser’s Office.
The Tangible Personal Property Tax Return (DR-405) is the application for the exemption of up to $25,000 for tangible personal property. A return must be filed by April 1 or within the approved extension period to receive the exemption.
To be accepted by our office, the Tangible Personal Property Tax Return (DR-405) must be dated and signed by an authorized representative. (PLEASE NOTE: In order for annotations/comments to show on the printed document, it is necessary when printing from Adobe Acrobat or a PDF Converter Professional 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. Please thoroughly read our Filing Extension Policy and our Post Certification Policy. All extension requests must be received by the close of business (5 p.m. EST) on the last business day prior to April 1 to be considered. All filing extension requests on existing accounts must include the account number.
How do I file a return?
If you have an existing account you may file online. This requires your account number and password. A new password is sent out in January. If using the online filing feature, the fact that you have the correct password is considered a valid signature.
Filing a Paper DR-405 Form
The DR-405 (Tangible Personal Property Tax Return) must be completed to accurately reflect the assets utilized by the business. If a paper form is being filed, the original form must be signed by the owner or authorized agent for the business and 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 an Excel spreadsheet using the following format DR-405 Asset Detail Submission Data Specifications. The Excel file 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.
You can obtain a Tangible Personal Property Tax Return (DR-405) in person at our offices, or, you can download a fillable PDF from our Download Forms page.
Read our Trade Fixture Policy
Where do I file my DR-405?
Returns may be mailed to:
Sarasota County Property Appraiser
ATTN: TPP Department
2001 Adams Lane
Sarasota, FL 34237-7090
Hand delivered to either of our office locations:
Sarasota - 2001 Adams Lane, Sarasota, FL 34237 OR Venice - 4000 S Tamiami Trail, STE 115, Venice, FL 34293
Tables are finalized annually in July. The tables are subject to change without notice prior to that date.
Just Value = Original Installed Cost X Index Factor (found in tables) X Depreciation Percent Good (found in tables)
2019 Index and Depreciation Schedules
Helpful hints for filing DR-405 forms
- File the original return no later than April 1 to avoid late filing penalties and loss of tangible exemption of up to $25,000.
- Remember to sign and date the return. Unsigned returns are not accepted and are mailed back to the taxpayer.
- 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.
- If you have an asset listing or depreciation schedule that identifies each piece of equipment, attach it to your completed form.
- Do not use vague terms such as “various” or “same as last year."
- It is to your advantage to provide a breakdown of assets since depreciation on each item may vary.
- If you sell your business please provide the new owner’s name and address.
- Detailed information regarding filing is provided in the instructional section of the return itself.
- If you close your business or move to a new location, please inform this office. It will enable us to keep timely, accurate records.