Property tax assessor records corp

The owner reports the acquisition costs of business equipment, supplies and fixtures that were owned on lien date at the address shown location of the property. All 58 California county Assessors mail out similar statements that enable businesses to report the cost of their equipment, supplies, leased equipment, real property and improvements. 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. Can I file my Business Property Statement electronically?

Beacon Information

Learn more about using electronic filing. What is business personal property? Business Personal Property includes all supplies, equipment and any fixtures used in the operation of a business see Page 3 of the L instructions for an explanation of what specifically constitutes a business fixture. Business inventory and licensed vehicles except Special Equipment, 'SE' tagged, off-road vehicles owned by the business are exempt from reporting note: SE tagged and other off-road vehicles and equipment are taxable personal property and must be reported.

Why do I have to pay taxes on my Business Property? That's because the California Constitution states in part that, 'Unless otherwise provided by this Constitution or the laws of the United States, a All property is taxable 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. However, Business Personal Property is not exempt under the law and neither are privately or business-owned boats or aircraft.

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For information, visit boat and aircraft assessments page. Where can I obtain assistance in completing the BPS? You may obtain assistance in completing the form using any of the following:. What is the 'lien date'? The Lien Date is January 1 every year, and is also the date property taxes for any fiscal year become a lien against a business property owner.

What is the tax rate on personal property? In Sacramento County, the average overall tax rate including bond debt averages perhaps 1. How much in taxes will I have to pay due to this assessment? The amount of taxes you will owe will depend on the amount of the assessment and the specific tax rate in your area. The average rate in our county is approximately 1. What if the printed information on the BPS is incorrect? If the business has moved or changed its mailing address, then draw a single line through the incorrect information Please DO NOT make the preprinted 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 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 disposition of any taxable personal property.

I do not own the real property. Do I still need to fill out the BPS?

Assessor information by county

Even if you don't own the real property where your business is located, you must still file the BPS because it is used to report business personal property equipment, supplies, etc. You must also complete any related schedules that apply to your particular business. If you do not own the real property, you may not need to complete Schedule B, columns 1, 3, and 4. If you own or have added any tenant-owned improvements, you will need to report their costs in column B-2 see official instructions for the L.

We review the form for completeness and accuracy and then employ a number of methods to convert reported costs to an estimate of their lien date, fair market value see question After the Assessor has assessed your property and has finished processing your BPS, the form is then filed with your property tax records.

Business Personal Property FAQs

The assessment is forwarded to the County Auditor, who computes the taxes owed and then forwards that information to the Tax Collector, who in turn creates the bill and collects the tax. How is the assessed value of my business property determined? In order to determine fair market value, the assessor employs a number of methodologies. For example:.

The only exception is personal property 'fixtures,' which are defined as real property for property tax purposes and are subject to Proposition 13 restrictions. Unlike other real property Fixtures are not subject to Supplemental Assessment. Failure to File: Where a BPS is not filed as required by law or requested by the Assessor, then rely on the best information available in order to estimate the value of any personal property owned by the non-reporting business.

In the absence of a BPS, an 'average' assessed value based upon businesses of a similar size and use may be used to derive such an estimate. Our office may also perform a field inspection of your business property, during which an estimate of the lien date, fair market value of the business personal property discovered will be made. In that case, penalties may be assessed if the Assessor's Office does not receive a properly completed BPS by the normal due date.

What if I disagree with my assessment? If you disagree with an assessment made by the Assessor, we recommend you first discuss it with an Auditor-Appraiser at the Assessor's Office. The Appeals Board is an independent agency representing the Board of Supervisors and is not connected with, nor is it under the control of, the Assessor's Office. How do I file an assessment appeal? You may request an application by calling , or by mail at that address.

When can I file an assessment appeal'? That filing period applies to any assessment produced for the annual assessment roll.

If a bill for the current assessment roll is mailed to you after the normal filing period has expired, the filing period is extended and you may then file an application within 60 days of the date of mailing of that tax bill. See the Assessment Appeals Board web site for exact details in any given year. Additionally, an application may be filed at any time where an owner believes the Assessor did not properly notify them of an assessment as required by law.

In that circumstance, a preliminary hearing known as a Jurisdictional Hearing will be held in order for the Appeals Board to determine whether or not proper notice was given.

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If the Board finds proper notice was not given, it will then allow the appeal to go forward to a full valuation hearing. If however the Board finds proper notice was given, the application will be denied. What happens when I file an assessment appeal? Once a formal assessment appeal has been filed with the Appeals Board, a hearing date will be set by the Board. Before the hearing takes place, you will need to gather data and evidence to support your opinion of value and then present it during the scheduled hearing.

The Assessor's Office will also prepare evidence to present to the Board. At the hearing, all evidence and argument are presented to a three-member Appeals Board panel appointed by the Board of Supervisors. Once all presentations are complete, the Appeals Board may make a determination of value on the spot, or it may defer its decision until a later date so that it has time to review all the data and make a proper determination of value.

If the decision is deferred, you will be notified of the decision by US mail once it has been rendered. For guidance on how to prepare for an appeal, you may contact the Sacramento County Assessment Appeals Board at Additionally, an appeal guideline has been published by the State Board of Equalization and is available on their Internet site at: www. All the equipment I use is my own personal equipment; must I report it? If you are using any 'personal' equipment in your business, then yes, it must be reported. For example, persons working out of their homes must report personal desks, computers, calculators etc, if those items are used in their business.

Other examples include:. All the equipment I use was given to me and I don't know what to report? Where the equipment you use in your business was acquired as a gift, you may report your estimate of its current market value on the BPS that is, what you think it would sell for in the open market place. Enter that estimated value in the most current year's cost line and add a note indicating that the entry is an estimate. Most of the equipment I use does not belong to me; a friend is letting me use it and I have no idea what it cost. Must I report their equipment on my BPS?

The BPS must show all taxable property owned, claimed, possessed, controlled or managed by the person filing the form.


If you are responsible for paying the tax on the equipment, then you may estimate its value see question 22 and report it on the BPS. I only rent an office and all of the furniture and equipment belongs to the landlord. Do I still have to complete the BPS? In this case, you need to write a remark about that circumstance on the BPS, or on an attachment to it. If you own any small equipment, such as a printer, copier, supplies, etc. What is a supply item?

Any item that you are consuming in your business, such as office supplies, pencils, paper, calculator tape, stationary, envelopes, cleaning supplies, fuel etc. If you are a manufacturer, 'supplies' would not include anything that becomes part of the finished product. Materials or supplies that are integrated into the products you market are exempt because they become business inventory once in the products, and business inventory is exempt from property taxation. District of Columbia Tax Changes to Take Effect October 1 New provisions include sales and use, individual income, corporate franchise, real property, and recordation and transfer taxes.

District of Columbia Taxes. We Are OTR! One Goal. One Team. Featured Services. Visit OTR's state-of-the-art, walk-in customer service facility for tax assistance. Business Tax Service Center.