Business Property Statement Deadline

Inyo County Assessor Dave Stottlemyre wants to remind business owners that the deadline for filing the annual Business Property Statement is here. The statement deadline is April 1, with a penalty if not filed by May 7.

The Business Property Statement provides a basis for determining property assessments for business equipment and related fixtures. The Assessor’s Office mails the form to most commercial, industrial, and professional businesses in Inyo County during January of each year.

Businesses with personal business property with an aggregate cost of $100,000 or more must file a statement each year by April 1. This is required by state law. However, the state does allow a business until May 7 to file, but after that a 10% penalty will be applied.

Generally, businesses with total business property that cost less than $100,000 are not required to file a Business Property Statement annually. Instead, a value may be established based on an initial filing or by an on-site appraisal. That value may be adjusted by subsequent annual on-site appraisals. Please note that if the Assessor’s Office mails you a form, you are required by law to return the form by the due date regardless of the amount of personal property.

Press Release Business Property Statements