The Business Property Division of the Office of the Assessor is responsible for assessing all property owned by businesses located in the County of Ventura and conducts business audits mandated by the State.
Business Personal Property includes items like machinery, equipment, fixtures, and leasehold improvements held or used in connection with a trade or business.
Unlike Real Property, Business Personal Property taxes are based on information provided to the Office of the Assessor on an annual basis. Business Personal Property is reassessed annually because businesses may have acquired new or disposed of existing personal property during the course of the year.
Business property owners must file a property statement each year detailing the acquisition cost of all supplies, equipment, fixtures, and improvements owned at each location within the County of Ventura.
Assessment begins with the cost of the asset, including sales tax, freight and installation per filed Property Statement. The Assessor applies valuation factors to the cost of the asset to arrive at the assessed value.