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Business Property

The Personal Property Division is responsible for the discovery and assessment of all taxable business property, boats, and aircraft.  Although assessed differently, the tax rate for both personal and real property at the same location is the same.

• Business personal property is appraised annually at its full market value.  Each year business owners must file a Property Statement (571) detailing costs of all supplies, equipment and fixtures at each location as of January 1 (lien date).  The 571 is a standardized form approved by the Board of Equalization and is mailed each year by the Assessor.
  
  This annual statement is required unless the property qualifies for a direct assessment.  If the business property qualifies for direct assessment, an abbreviated report may be prepared on a form provided by the Assessor.
  
  Additionally, anyone owning business property with a cost exceeding $100,000 must file a Business Property Statement annually whether or not it is requested by the Assessor.
   

• Business Inventory on hand for sale or rent, application software, and licensed vehicles are some examples of exempt property.
   

• Examples of taxable property are:
   

  • Building / Fixtures / Land Improvements

  • Office Furniture & Equipment

  • Machinery & Equipment

  • Equipment

  • Supplies

  • Tools

  • Computer Hardware & Operating Systems

  • Leasehold Improvements

  • Property Leased to Others

  • Construction In Progress