portability estate tax return

The Palm Beach County Property Appraisers Office administers all property tax exemptions. The Property Appraiser exercises strict auditing procedures to ensure validity of any transaction received and posted by this office but cannot be responsible for errors or omissions in the information received from external sources.

What Is Portability For Estate And Gift Tax Portability Of The Estate Tax Exemption The American College Of Trust And Estate Counsel

Property owned by an exempt organization that is used for a religious literary scientific or charitable purpose may qualify for exempt status if it meets certain criteria.

. The information contained herein is for ad valorem tax assessment purposes only. This election is made on a timely filed estate tax return for the decedent with a surviving spouse. DR-504 Ad Valorem Tax Exemption Application and Return Attachment to Ad Valorem Tax Exemption Application and Return Affirmative Steps.

If your property is your permanent residence or homestead you may be eligible for a tax exemption. Due to the elapsed time between transactions in. We have five Service Centers conveniently located throughout Palm Beach.

For a complete description. Exemptions reduce the assessed value of your property thereby reducing the amount of property tax you pay. Note that simplified valuation provisions apply for those estates without a filing requirement absent the portability election.

For additional information refer to Instructions for Form 706.

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