The Appraiser's Archive: Coins of the Past and Taxes of the Future
- Danny Triplett
- Apr 18
- 2 min read
As our family business prepares to expand our service area (and move our personal lives!) to the Greater New York Metropolitan Area, we are certainly keeping busy. Today's short edition of The Appraiser's Archive showcases an ancient coin-turned-pendant we had the pleasure of researching, and we dive into Florida's tangible property tax laws.
PERSONAL PROPERTY SPOTLIGHT
We are currently working with a large amount of fine jewelry for a client, and one of the pieces is a rather curious pendant with an interesting piece of history showcased in the center of it.
The piece features a robust 14K gold pendant with the word "Israel" imprinted into the gold. The centerpiece is a Macedonian silver drachma minted in the name of Alexander III, whom you may know as Alexander the Great. The ancient coin depicts Alexander as the Greek hero Hercules with a lion skin headpiece and Zeus on the reverse side. While dating this exact coin and the more modern gold piece wasn't in the scope of our client's project, these coins continued to be issued in Alexander's name two centuries after his death.
Do you have a potentially valuable item you want to learn more about?
THE PROFESSIONAL'S CORNER
With the Trump Administration's sunsetting tax legislation and GOP proposals to repeal federal estate tax swirling in recent news, the future of Florida's own tax laws have come into question by some. Florida currently imposes a tangible personal property (TPP) tax on items used by businesses in the state, including machinery, furniture, and supplies. The exemption sits at $25,000 with a tax rate of 7%.
While Florida's exemption is generous compared to some other states, proponents of repealing Florida's TPP tax argue it would reduce burden on local businesses, encourage investment in new equipment, and keep businesses in the state. The majority of Florida's TPP tax goes towards local county government and education. According to The Tax Foundation, state and local governments can minimize the burden on businesses while continuing to fund their counties by enacting de minimis exemptions, adjusting depreciation and valuation methods for items, and increasing exemptions overall when it comes to TPP tax.
Advocates have tried and failed to repeal the TPP tax before. What does the future hold for this Florida tax law? If you own a local business and have thoughts on Florida's TPP tax that you'd like to make heard — or simply need help navigating personal property valuations for your own business — get in touch at contact@valuablesas.com.
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