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Tulare County

Office of the Assessor/Clerk-Recorder

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Business Personal Property and Fixtures

Unlike real property, business property is appraised annually. Business property owners must file a yearly property statement detailing the acquisition cost of all supplies, equipment, fixtures, improvements and land owned at each location within Tulare County. In general, business property values are based on original cost, property classification and type of business. However, other approaches to value, such as comparative sales and income capitalization, may be used when appropriate.

  • Every entity receiving a Business Property Statement or a letter from the Assessor requesting its submission must complete and return the statement by the indicated deadline.

  • Any entity owning taxable personal property with an aggregate acquisition cost of $100,000 or more within Tulare County as of January l must submit a completed Business Property Statement by April 1 of each year, regardless of whether the Assessor formally requests it.

  • If a statement is not returned by May 7, an estimated assessment will be made using the best information available. A 10% penalty will be added to the assessment for failure to file as mandated by California Revenue and Taxation Code § 463.

  • If paper filed, the Business Property Statement must be signed by the assessee, a partner, a duly appointed fiduciary, or an agent. When signed by an agent or employee other than a member of the bar, a certified public accountant, a public accountant, an enrolled agent, or a duly appointed fiduciary, the assessee’s written authorization of the agent or employee to sign the statement on behalf of the assessee must be filed with the Assessor. The signature on the authorization form must be an original, not a fax or copy. In the case of a corporate assessee, the statement must be signed by an officer, employee, or agent designated by the board of directors in writing. A property statement not signed per the foregoing instructions does not constitute a valid filing. The 10% penalty for failure to file applies to unsigned property statements.

    The following should not be reported on the property statement:

  • Inventory

  • Computer software

  • Licensed motor vehicles

The taxpayer may furnish attachments instead of entering the information in the property statement. However, such attachments must contain all the information requested by the statement and be in a format acceptable to the Assessor. The original property statement must be returned, contain appropriate references to the attachments, and be properly signed.

State law requires that the Assessor’s Office audit the books and records of a significant number of businesses at least once every four (4) years. Other entities are audited on a random basis or when requested by the taxpayer.

The Business Personal Property division is responsible for locating, valuing and enrolling all taxable business and personal property, including owned and leased property such as computers, supplies, furniture, machinery, equipment, airplanes and boats. The department must audit a statutory number of businesses once every four years. The division also represents the Assessor's Office at Assessment Appeals Hearings when business or personal property assessments are contested. 

The mission of the Business Personal Property division is to efficiently produce a complete, accurate and timely personal property and business improvement assessment roll in compliance with legal mandate and provide professional, timely and helpful services.

The Business Personal Property division determines the value of property as it exists at 12:01 A.M. on January 1 (lien date) of each year.

Unlike real property, business property is appraised annually. Business property owners must file a yearly property statement detailing the acquisition cost of all supplies, equipment, fixtures, improvements and land owned at each location within Tulare County. In general, business property values are based on original cost, property classification and type of business. However, other approaches to value, such as comparative sales and income capitalization, may be used when appropriate.

  • Every entity receiving a Business Property Statement or a letter from the Assessor requesting its submission must complete and return the statement by the indicated deadline.

  • Any entity owning taxable personal property with an aggregate acquisition cost of $100,000 or more within Tulare County as of January l must submit a completed Business Property Statement by April 1 of each year, regardless of whether the Assessor formally requests it.

  • If a statement is not returned by May 7, an estimated assessment will be made using the best information available. A 10% penalty will be added to the assessment for failure to file as mandated by California Revenue and Taxation Code § 463.

  • If paper filed, the Business Property Statement must be signed by the assessee, a partner, a duly appointed fiduciary, or an agent. When signed by an agent or employee other than a member of the bar, a certified public accountant, a public accountant, an enrolled agent, or a duly appointed fiduciary, the assessee’s written authorization of the agent or employee to sign the statement on behalf of the assessee must be filed with the Assessor. The signature on the authorization form must be an original, not a fax or copy. In the case of a corporate assessee, the statement must be signed by an officer, employee, or agent designated by the board of directors in writing. A property statement not signed per the foregoing instructions does not constitute a valid filing. The 10% penalty for failure to file applies to unsigned property statements.

    The following should not be reported on the property statement:

  • Inventory

  • Computer software

  • Licensed motor vehicles

The taxpayer may furnish attachments instead of entering the information in the property statement. However, such attachments must contain all the information requested by the statement and be in a format acceptable to the Assessor. The original property statement must be returned, contain appropriate references to the attachments, and be properly signed.

State law requires that the Assessor’s Office audit the books and records of a significant number of businesses at least once every four (4) years. Other entities are audited on a random basis or when requested by the taxpayer.