Business Personal Property / e-File
The Assessor is responsible for the discovery and assessment of all taxable business personal property located in Lake County as of January 1 every year. In general, Business Personal Property is all tangible property owned, claimed, possessed, controlled, or leased by a profession, trade, or business except real estate.
Business Personal Property is not subject to Proposition 13 value limitations and is appraised annually at fair market value as of January 1.
Not all Business Personal Property is assessable. The California Constitution states that all property is subject to property tax unless it is specifically exempted by law. Examples of non-taxable business personal property include household items and personal effects, goods held for sale or lease (business inventory), and motor vehicles that pay an in-lieu property tax as part of their registration fees.
Examples of taxable business property include:
- Machinery and Equipment
- Office Furniture and Equipment
- Movable Construction Equipment
- Property Leased to Others
Business Property Statement (FORM 571)
Businesses are required by law to file an annual Business Property Statement (FORM 571) if their total cost of business personal property is $100,000 or higher whether or not requested to do so by the Assessor of that county. Any person not otherwise required to file a statement shall do so upon request of the Assessor, regardless of the aggregate cost.
Statements are due April 1 and a 10% late filing penalty will be applied if a statement is not received by May 7.
Each business location is required to file its own FORM 571.
To set up a new business account to file your FORM 571, please call (707) 263-2302 for more information.
e-Filing Information (e-SDR)
Most businesses in Lake County who are requested to file are now required to use the e-SDR system to e-file their Business Property Statements on-line to save time (and paper!). e-SDR is a free web-based application and all information entered are secured and protected by your assessment number and Business Identification Number (BIN).
A step-by-step tutorial guide on how to e-file using the e-SDR system can be downloaded here: e-SDR Tutorial Guide
For large businesses with multiple locations in multiple counties, the SDR system should be used instead. SDR (Standard Data Record) is designed to process large amounts of statement in a single file. For more information, please register on-line at http://www.calbpsfile.org or contact SDR at firstname.lastname@example.org