Unlike real property, business personal property is reappraised annually. If you own taxable personal property with an aggregate cost of $100,000 or more on January 1, or if the Assessor has requested a statement be filed, you are required by law to file a property statement by April 1st of each year and detail the costs of all supplies, equipment, fixtures, leasehold improvements, land improvements, and land, as well as other requested information for each business location. Your completed property statement should be received no later than 5:00 p.m. on May 7th, or you will be subject to a late filing penalty.
Small business owners with personal property with a value of $10,000 or less, may be exempt from personal property tax assessment in Ventura County but are still required to file a statement if requested by the Assessor. For more information, call (805) 654-2181.
Business Property Statements are mailed on or about February 1st.
A select group of business property owners that received the e-SDR E-File Your Business Property Statement letter may file online. If you did not receive this letter with your annual Business Property Statement Packet then you may print the PDF version from our web site but you cannot file online. You must include the Account and parcel numbers when returning the statement.
There is a separate electronic filing program for large businesses that have multiple locations throughout the state. Participation in this program requires programming on behalf of the business entity such that business property data itself is uploaded to a state-wide server. Filing deadlines apply. Feel free to contact us if you need more information.
List of Ventura County Cities
The following list identifies the cities and towns located within the borders of Ventura County.
The tax is 1% of the assessed value. However, your tax bill might also include special assessments voted into effect by the voters or by their representatives within the property's taxing jurisdiction. Therefore, you can estimate that the taxes will be 1.2% of the assessed value. Under the law, there is no provision for the pro-ration of unsecured property taxes.
If your business has moved or changed its mailing address, then draw a single line through the incorrect information (Please DO NOT make the pre-printed information unreadable). Then legibly print or type the new information on the form and also indicate the effective date of the move or when the change became effective. When reporting on a sale, include the new owner's name and mailing address. When reporting that the business has been closed, provide the date(s) and information relating to the deposition of any taxable personal property. Complete the BPS, sign and return it to the Assessor's Office.
A Business Property Statement is a form, or a series of reporting forms upon which both real and personal property must be declared as such assets exist on the Lien date (January 1st). The assets must be reported at acquisition cost, if known.
Basically, any equipment that you use in your business should be reported. Examples:
The Lien date is January 1st every year, and is also the date property taxes for any fiscal year become a lien against a business property owner. Where personal property is concerned, the lien is placed on the owner of the property (not the property), and owners who allow their personal property taxes to become delinquent may have a Summary Judgment recorded against them personally (see Judgments & Liens section for more information).
(NOTE: Prior to January 1, 1997, the lien date was March 1)
The BPS collects information regarding the supplies, business equipment and leasehold improvements for each business location within the county. The information an owner provides on the statement is then used to assess and tax property in accordance with California State Law. The owner reports the acquisition costs of the supplies, business equipment and leasehold improvements that were owned on lien date at the address shown (location of the property). All 58 California County Assessors mail out similar statements.
Throughout California, the property tax rate is 1% of the assessed value (also, applies to real property). However, your tax bill might also include special assessments voted into effect by the voters or by their representatives within the property's taxing jurisdiction. Therefore, you can estimate that the taxes will be approximately 1.2% of the assessed value. For example, if your personal property assessment is $10,000, your personal property tax bill should be roughly $120.00. Note: Under the California law, there is no provision for the pro-ration of unsecured personal property taxes.
The BPS is due on April 1st and is considered delinquent if it is filed after 5:00 P.M. on May 7th.
If the Assessor sends you a BPS, the law requires that you complete, sign, and return the statement to the Assessor's Office in the time period specified. Any business that owns Personal Property and/or Leasehold Improvements having a total combined cost or current market value of $100,000 or more is required to file a BPS even if the Assessor did not send you a formal request to do so. Also, any other business that is requested by the County Assessor to file, must file, regardless of the value of their assets.
The Assessor might have learned about your business through the city where your business is licensed, from a fictitious business name report, or from a field check. Every person who owns taxable personal property other than a mobile home, that has an aggregate initial cost or current market value of $100,000 or more, must report the itemized nature, location, and cost of acquisition of such property to the county assessor.
The California Constitution states in part that "Unless otherwise provided by this Constitution or the laws of the US, (a) All property is taxable". That is, unless otherwise exempted, all forms of tangible property are taxable in California and the Assessor must assess business personal property because the law requires them to do so.
Some forms of personal property are exempt from taxation under the Constitution. For example, household furnishings, personal effects, and business inventory are exempt under the law.
The State of California as well as all the California Counties operate on a fiscal year, and that fiscal year is July 1st through June 30th. The responsibility for the tax bill rests with the owner in possession of the business as of January 1st.
Yes. Please note the facts on the BPS or attachment to it, and return the signed BPS to the Assessor's Office. The Assessor needs to know these facts in order to prevent an improper assessment being issued to you.
Yes. Please note those facts on the BPS, or attachment to it, and return the signed BPS to the Assessor's Office. The Assessor needs to know these facts in order to prevent an improper assessment being issued to you.
Yes. Please note those facts on the BPS or an attachment to it, and return the signed BPS to the Assessor's Office. The Assessor needs to know these facts in order to prevent an improper assessment being issued to you.
Yes. A business does not have to be open for its taxable business property to be subject to assessment. For example, let's presume that on the lien date, January 1, a new pizza parlor is under construction and nearly ready for its grand opening. Even though the pizza parlor was not open for business on the lien date, taxable business personal property (such as furniture, ovens and supplies) was in the owner's possession on the lien date and the Assessor is required to assess it.
Yes. The law specifies that all taxable personal property must be assessed as of a specific point in time, and that point is precisely at 12:01 A.M. January 1st (regardless of what transpires after that date). Even if closed shortly after the lien date, a business must still file a BPS and pay taxes for the coming fiscal year on any taxable property they owned on the lien date. Please note on your final return the date that your business closed.
Yes. Anytime a person receives a BPS from the Assessor and their business is no longer in operation, the BPS must still be signed and returned to the Assessor. You should also include a note on the BPS indicating the date the business closed. If you do not complete the form and notify us that you are out of business, the form will be considered delinquent if not received by May 7th. Plus you may be assessed a penalty for not filing the form.
On the BPS or attachment, please write a note that includes the date you went out of business, as well as the status and disposition of any equipment owned or used by you at the time the business closed. If any of the property was sold to another person or business, please indicate the buyer's name and address. If any of the property reverted to your own personal use as household personal property, please indicate that as well.
An application must be filed, in writing with the Assessment Appeals Board. You may request an application by calling the Assessment Appeals Board Clerk at (805) 645-1307, or download the form here .
Yes. Filing an appeal does not exempt you from paying your property taxes as due because the assessment of your property is deemed correct until a change is made by the Assessment Appeals Board.
If you disagree with an assessment made by the Assessor, we recommend that you first discuss it with an Appraiser from the Assessor's Office.
An Appraiser is available Monday through Friday, 8 A.M. to 5:00 P.M. at (805) 654-2181, or in person at 800 South Victoria Avenue, HOA, Ventura, CA 93009-1270 from 8 A.M. to 5 P.M.
Whether or not you discuss the matter with the Assessor, you also have the right to file an Application for Changed Assessment (assessment appeal) with the Assessment Appeals Board. The Appeals Board is an independent agency and is not connected with, nor is it under the control of the Assessor's Office in any way.
The normal filing period for filing an Application for Changed Assessment is July 2 to September 15th of the current fiscal year. The assessment appeals regular filing period is July 2 through September 15. However, when September 15 falls on Saturday, Sunday, or a legal holiday, an application that either is hand delivered or mailed and postmarked on the next business day shall be deemed to have been filed within the requisite time period. Therefore, the Clerk of the Assessment Appeals Board will accept appeal applications that are hand delivered, by 5:00 p.m. on Monday, September 16, 2013, or are mailed and postmarked no later than Monday, September 16, 2013.
The filing period applies to any assessment produced for the annual assessment roll. If a Notice of Enrollment of Escape Assessment is mailed to you, you must then file an application within 60 days of the date of mailing of that notice.