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-ORANGE COUNTY ASSESSOR DEPARTMENT
- Webster J. Guillory, Assessor

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-WHAT IS BUSINESS PERSONAL PROPERTY?
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    What Is Business Personal Property?
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  *

Tangible property owned, claimed, possessed or controlled in the conduct of a profession, trade or business may be subject to property taxes.

 
  * In general, Business Personal Property is all property owned or leased by a business
   
- except:
   
-Real Property -& -Inventory Items
Real Property-Inventory
   
   
   
  *
Business Personal Property includes, but is not limited to:
* Machinery --* Computers
* Equipment --* Telephones
* Furniture --* Desks & Chairs
* Fax Machines --- Bookcases
* Photocopiers-- * Supplies
   
  *

Business Personal Property is valued annually as of January 1.

 
    Choose a topic for more information:
   

 
   

 
   

 
   

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    Business Property Statement (571-L Forms)
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  • Businesses are required by law to file a Business Property Statement if the aggregate cost of business personal property exceeds $100,000 or if the Assessor requests the information

 
   
  • Separate filings are required for each business location

 
   
  • Statements are due April 1

 
   
  • A 10% penalty will be applied if a statement is received after May 7

 
   
  • Business Property Statements are confidential documents and are held secret by the Assessor

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    Leased Equipment
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    Both the Lessor and the Lessee should report equipment that is on lease on January 1 to the Assessor. Not all leased equipment is assessed in the same manner. Several factors determine how leased equipment is assessed, including:
   
  • Assessability

 
   
  • Assessee

 
   
  • Leases with exempt entities

 
   
  • Situs (Street Address)

 
   
  • Type of Lease

 
    In 2001, the California Assessors’ Association adopted a standardized leased equipment reporting format leasing companies can file with their annual business property statement. Click Click Here here to download the Excel file.
   
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    Frequently Asked Questions
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    State of California Publications
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The California State Board of Equalization publishes a series of Assessors' Handbooks to provide guidance to local Assessors.

 
    Click here to view the Assessment of Personal Property and Fixtures (AH 504) handbook.
   
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