Assessor Rolf Kleinhans is warning Nevada County business owners that they have less than five weeks to submit their business property declarations to the assessor's office. The statement submission period runs from January 1st to April 1st, with May 7th, 2024 being the last day to submit a statement without a 10% penalty. Businesses can file a Business Property Report (BOE 571-L) electronically or by completing a paper form.
Who must submit?
If the Assessor sends you a notice to file a letter, the law requires you to either electronically file your statement or complete, sign and return a paper statement to the Assessor's Office. Also, any business that owns personal property and/or equipment whose total cost is more than his $100,000 must file a business property report, even if the appraiser does not require it to be filed.
Electronic declaration
The notice to submit the letter was mailed in late January, along with the relevant information required for electronic filing. One of the biggest benefits is that once a business enters previous year's acquisition cost information into the eFile system, that information is automatically carried over from year to year, saving the business time and resources. Another benefit is that business owners can have peace of mind as they receive confirmation that their business property report has been successfully filed.
Submitting and mailing paper statements
When businesses receive a notice to file a letter, they can choose to download a paper business property statement through the e-filing web portal. Please note that you must enter all information on the form each year, including the previous year's expenses. Paper forms must be completed, signed and postmarked or submitted to our office by the May 7 deadline. Otherwise, it will be considered late and a 10% penalty will be assessed. Paper Business Asset Statements can also be downloaded by visiting Cal Assessor eForms and entering “571-L” to download the fillable form.
Need more help?
For more information, please visit our Business Properties webpage. If you need to resubmit your notice to submit a letter or have any other questions, please email business.property@nevadacountyca.gov or call 530-265-1259.