TPP Exemption

In order to qualify for the TPP Exemption, businesses must file a DR-405, tangible personal property tax return with the Property Appraiser’s Office by April 1^st. New businesses must file an initial tax return by April 1st to receive the exemption. Click HERE for the tax return & Instructions. Even if you believe the value of your assets are less than $25,000, you must file an initial tax return with our office to receive your TPP exemption. Failure to file a tax return constitutes failure to apply for the exemption and may result in loss of the exemption and assessment of penalties. The exemption is applied to the first $25,000 of taxable value on your tangible personal property assets. Every business that has assets exceeding $25,000 as of January 1st, must file a TPP tax return with the Property Appraiser’s office by April 1st.  Once you have filed an initial return, as long as the value of your business assets does not exceed $25,000, you are not required to file a return in subsequent years.

NOTE: If your value was previously under $25,000 but now exceeds this amount as of January 1^st in any subsequent year, you MUST file a tangible tax return by April 1^st.  You may contact our Office and request a form or download one from our website for your specific account.