What is Tangible Personal Property [TPP]?  Tangible Personal Property includes such items as furniture, tools, machinery, appliances, leasehold improvements, signs, supplies, leased equipment, agricultural equipment and personally owned items used in a business. When is the Deadline to File?  All Gulf County 405 Forms must be filed by April 1 st  of that year.  Taxpayers who file their Gulf County 405 TPP returns by the April 1 deadline will receive an exemption on the first $25,000 of assessed value. What should I claim on my Gulf County 405 form?  A TPP return must be filed on all equipment used to operate your business.  Even those who may not think they have assets to report probably do -- for example, supplies, rented equipment, items provided to renters or personally owned items used in business. Filing late or failing to file a Gulf County 405 TPP return may result in filing penalties.
Gulf County Property Appraiser
Mitch Burke, CFA