New Business Owner

Each year Business Property Statements (BOE 571-L), which provide a basis for determining property assessments for fixtures and equipment, are mailed by the Assessor to most commercial, industrial, and professional firms.

Businesses and apartment owners with personal property and fixtures that cost $100,000 or more, or if the Assessor requests a statement regardless of cost, must file a signed Business Property Statement each year by April 1st.

If your property statement is post-marked after May 7th you will be subject to a late filing penalty. If this date falls on a weekend or legal holiday, the property statements may be mailed and postmarked on the next business day.

Business Personal Property includes all property except inventory items held for sale or lease and real estate owned and/or used by a business.