Business Personal Property / e-File

General Information                                                                      CLICK HERE TO 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
  • Computers
  • Supplies
  • Movable Construction Equipment
  • Property Leased to Others
  • Tools
  • Building/Fixtures/Land Improvements
  • Construction in Progress
  • Leasehold Improvements

The Real Property Division of the Assessor's Office assesses the Land and real property structures to the landowner. The Business/Personal Property Division assesses the remaining taxable business property to the owner of the business.

Every year in January, identified businesses receive a request from the Assessor to file the Business Property Statement or the Agricultural Property Statement for business property owned as of 12:01 am, January 1st (lien date) of that year. Business property owners must file a Business Property Statement (Form 571) each year detailing the acquisition cost of all supplies, equipment, fixtures, and improvements owned at each location with the County of Lake.

Per Revenue and Taxation Code, Section 441, you must file a statement if one of the following is true:

  1. The Assessor's Office has sent you a Notice of Requirement to file Business Property Statement (Form 571), and/or Notice to e-File a Business Property Statement
  2. You have taxable business property with a total cost of $100,000 or more, located within the County of Lake as of January 1 of each year, even if the Assessor's Office did not send you one of the above notices

All lessors are required to report equipment out on lease in the County of Lake, regardless of any assigned tax responsibilities. All leased equipment including leases to public utilities, leases to public schools, free museums, and leases to other educational or charitable institutions must be reported.

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. Failure to file the business property statement will result in the Assessor's Office estimating the value of your business property and adding a 10% penalty to the assessment (R&T Code, Section 441, 463, and 501).

Form 571 Document Resources