What is considered a ‘Valid Statement'?

While completing the e-filed Property Statement, all items on the Statement must be addressed properly, including each of the following. Per Revenue and Taxation Code Section 441(g), the Assessor will not accept a statement determined to be in error. The following are typical problem areas on the Business Property Statement:

  • Location of the Business Property: For Businesses, this would be the primary location of the equipment used in your business. If you are a construction company, logging company, etc., where the equipment moves from location to location, this would represent the location of the company's home office. For those with only mobile equipment, this would represent the primary storage location of the equipment.
  • Part I: General Information: All of the questions in this section must be addressed properly.
  • Part II: Declaration of Property Belonging to You: In completing this section, all of the attached sections need to be completed properly as amounts are transferred from Schedules A, B, and any alternate schedules that may be provided. Also, an amount representing Supplies must be reported on Line 1 based on the supplies on hand on January 1.
  • Part III: Declaration of Property Belonging to Others: Any personal property and fixtures that belong to others must be reported in this section. The most common will be equipment being leased/finance, but can also include equipment on locations provided by services you contract with outside companies. See the Instructions provided with your Statement for a full listing of the type of items that should be included. Please note that if you have a Conditional Sales Contract (equipment is capitalized and title transfers to you at the end of the lease), the item(s) should be included on Schedule A and not in this section. Please indicate in this Section if you included the item elsewhere on the Statement.
  • Declaration by Assessee: This section needs to be completed in full. When a Statement is e-filed, the requirements for a valid signature are not valid.
  • Schedules A and B: These schedules must be completed with the acquisition costs of personal property and fixtures broken down by year of acquisition and type. If entering costs in 'Prior' or in Column 3- Other Equipment, attachments, or comments are required.
  • BOE-571-D (Supplemental Schedule for Reporting Monthly Acquisitions and Disposals of Property Reported on Schedule B of the Business Property Statement): If there are additions and/or acquisitions of items reported on Schedule B, the itemization of the changes must be made on this schedule. With the information provided, we have better information to ensure that items are classified properly. Please note that in no circumstance can we accept 'Same as Last year' and/or 'No Changes' as valid information. If the Statement is not completed properly, we may return the Statement for proper completion if time permits. An invalid Statement will be considered the same as a Statement not filed timely.

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1. Why should I e-file my Property Statement in lieu of paper filing?
2. Why do I have to complete this statement?
3. When is the statement due?
4. How do I e-file a Statement?
5. Why did you return my e-filed statement?
6. What is considered a ‘Valid Statement'?
7. What if the information already populated is not correct?
8. Can I attach a software-generated statement?