Who files Florida Form DR-405, and when?
Anyone who owned tangible personal property used in a business, or leased, lent, or rented it out, on January 1 files Form DR-405 with the county property appraiser by April 1. A return filed on time qualifies for an exemption of up to $25,000 of assessed value, and once that first return is in, an owner whose property stays at or below that figure may be waived from filing in later years. Late returns draw a 5 percent penalty per month, up to 25 percent.
Does a Florida probate inventory require a professional appraisal?
No. Probate Rule 5.340 asks the personal representative for each item's estimated fair market value at the date of death and does not name any appraiser credential. It does give residuary beneficiaries and heirs the right to a written explanation of how each value was reached, and to a copy of any appraisal that was obtained, which is where a documented report earns its place.
Does Florida license personal property appraisers?
No. Florida licenses appraisers of real property only; there is no parallel state license, exam, or education requirement for appraisers of equipment, vehicles, jewelry, or art. Our appraisers work to USPAP and hold credentials with organizations such as ASA, ISA, and NAJA.