Helpful Hints and Suggestions

• File a DR-405 return by April 1 unless you have received a waiver postcard stating you are exempt from filing.

• If an extension request is received by April 1 an extension in time may be granted for filing the DR-405 until May 15. Extension requests can be made online or by email to tpp@leepa.org.

• The preparation of your return is only as good as the information you provide to your accountant or report on your form.

• Questions 1-9a must be answered completely on return or it may be classified as incomplete.

• Identify any equipment that may have been “Physically Removed” during the year. List those items in the appropriate space on the back of the return.

• It is to your advantage to detail the reporting of your assets so that the proper depreciation of each type of assets may be applied. You may attach to the DR-405 tax return an asset listing or a depreciation schedule and mark the tax return “see attached”.

• Do not use vague terms such as “various/no change/same as last year”.

• Please include your estimate of the fair market value, condition, and the original cost of the asset. These are important considerations in determining a fair and accurate assessment.

• Additional information regarding filing is provided in the instructional section (DR-405 I) of the return itself.

• If you sell your business, go out of business, or move to a new location, please inform this office as soon as possible. This will help enable the Property Appraiser’s Office to keep timely, accurate records.

• In mid-August you will receive your Truth in Millage (TRIM notice). Please review this thoroughly and call the Tangible Department if you have any discrepancies. If your value is less than $25,000, you will only receive a TRIM in the initial year of exemption.