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| Assessor - Webster Guillory |
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What Is Business Personal Property?
Tangible property owned, claimed, possessed or controlled in the conduct of a profession, trade or business may be subject to property taxes. | In general, Business Personal Property is all property owned or leased by a business except: - Real Property (land, buildings and other improvements), and
- Business Inventory (items held for sale)
| Business Personal Property includes, but is not limited to: | - Machinery
- Equipment
- Furniture
- Fax Machines
- Photocopiers
| - Computers
- Telephones
- Desks & Chairs
- Bookcases
- Supplies
| | Business Personal Property is valued annually as of January 1. | Choose a topic for more information: | | top of page | Business Property Statement (571-L Forms) | Businesses are required by law to file an annual Business Property Statement if their aggregate cost of business personal property exceeds $100,000, or if the Assessor requests the information Separate filings are required for each business location Statements are due April 1 A 10% penalty will be applied if a statement is received after May 7 Business Property Statements are confidential documents and are held secret by the Assessor top of page | Leased Equipment
| | Both the Lessor and the Lessee should report equipment that is on lease on January 1 to the Assessor. Not all leased equipment is assessed in the same manner. Several factors determine how leased equipment is assessed, including: | | In 2001, the California Assessors' Association adopted a standardized leased equipment reporting format leasing companies can file with their annual Business Property Statement. Click here to download the Excel file. | top of page | Frequently Asked Questions | 
| State of California Publications | | The California State Board of Equalization publishes a series of Assessors' Handbooks to provide guidance to local Assessors. | | Click here to view the Assessment of Personal Property and Fixtures (AH 504) handbook. | top of page |
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