Property Taxes are payable in November with a 4% discount. December a 3%discount. January a 2% discount. February a 1% discount. The gross amount is due in March. Property Taxes become delinquent in April.
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Quick Jump to AD VALOREM TAXES, REAL ESTATE, Tangible Personal Property
Ad Valorem is a Latin phrase meaning "According to the worth". In Collier County, Florida, Ad Valorem or "real" taxes on "real" things "according to their worth" includes taxes on REAL ESTATE and taxes on a business's Tangible Personal Property.
We can't think of a better place in the world to live and own real estate.
A legal definition of "real estate" is real property including any man-made improvements. The tax is calculated by multiplying the TAXABLE VALUE on the real estate by the millage rate.
The assessed value of the real estate is not determined by the Tax Collector. The value is determined by the Collier County Property Appraiser who weighs such factors as fair market value (willing buyer/willing seller), geographic location, how the property is used, etc.
The tax itself expresses the MILLAGE RATE as the result of dividing the approved taxing district's budget for the tax year by the related, taxable value. The millage rate is translated as a rate per $1000. of taxable value. For example, if the millage rate is 9.00 (.009 x $1000) a taxable amount of $10,000. would equal $90. in taxes. A mill is one-tenth of one percent. The millage rate is determined by the Collier County Commissioners and other governmental agencies.
Your real estate tax bill includes "non-ad valorem" taxes in those districts where this is applicable. This amount is determined by that particular improvement district and is collected by the Collier County Tax Collector.
When paying your tax bill please note the eleven digit property ID number and put this number on your check or money order to be certain your tax account is properly credited. The number appears right under the pink block on your tax bill.
What period is the real estate tax FOR? It's for the calendar year which starts January 1st and is due November 1st of that year. The taxpayer has five months in which to pay the tax before it becomes delinquent.
We mail tax notices to the last reported addressee on October 31st of the tax year. Payment made in November earns the taxpayer a 4% discount which reduces by 1% each succeeding month until March when the full tax is due. On April 1st the tax becomes delinquent and a 3% penalty is added to the gross tax amount.
Once real estate tax becomes delinquent there is a legal process by which the taxed property eventually may be auctioned off to satisfy the tax obligation. The delinquency is advertised during May following the tax year. On or before June 1st (or within 60 days of the delinquency date) a "tax certificate sale" temporarily satisfies the obligation. But if the tax certificate is not redeemed within two years the certificate holder may "force" a sale of the property.
Unlike real estate, taxable "personal property" need not be nailed down. Mainly, the taxable personal property is owned by a business and consists of its furniture, fixtures, equipment and machinery. Also, owners of rental properties are subject to tax on furniture fixtures, appliances, non-central air conditioning, carpet, maintenance equipment, etc. The tax rate is simply computed by multiplying the assessed value by the millage rate.
Who determines the value? The property owner does by reporting information in a tangible personal property tax return filed with the Collier County Property Appraiser (NOT the Tax Collector's Office) before April 1st of the tax year. Many factors are considered by the property appraiser in placing a value on a person's goods. Considerations include original cost, replacement cost less depreciation, etc.
There are penalties for failure to file a return.
The millage rate is determined by dividing the approved taxing district's budget for the tax year by the related assessed value. This millage rate is expressed as a rate per $1000. of the assessed value.
The tangible personal property tax "year" is the same as the calendar year starting January 1st. The tax becomes due in November of that year and is delinquent April 1st of the following year. We send notices (to the last reported addressee) on October 31st of the tax year. A 4% discount is offered for payment in November. The discount reduces by 1.5% each month until March when there is no discount and April when there is a 1.5% penalty.
Once the property tax becomes delinquent there are legal avenues leading to the possible auctioning off of the property in order to satisfy the tax obligation. Within 60 days, the delinquency is locally advertised. The ad announces that the overdue tax now incurs interest at 18% per annum, and if not paid before a designated date, a warrant for seizure and sale of the personal property will be issued. This designated date can vary from year to year but must be prior to April 30th of the next year. All taxpayers need to know the law and understand the mechanisms which operate to enforce the law. At the tax collector's office, publicizing the tax calendar is an important job because so many people choose to pay their taxes early and take advantage of the discount!