221 S. Mooney Blvd. - Room 102-E Visalia, Ca 93291 - 4593
TULARE COUNTY ASSESSOR URGES BUSINESS OWNERS TO PROVIDE EQUIPMENT VALUATION INFORMATION
VISALIA, CA - Tulare County Assessor/Clerk-Recorder Tara Freitas is proactively planning to provide temporary tax relief to businesses that have suffered due to COVID-19 and requests that business owners submit valuation information about their business equipment and how they have been affected by the pandemic, including how long a business was forced to close or reduce operating hours, how income has been affected, and the degree to which usage of business equipment has been impaired.
“This recession is very different than the 2008 Great Recession when we reduced the property assessments of thousands of homes,” says Freitas. “This time it is businesses such as restaurants, hair salons, movie theaters, and gyms that have been most severely impacted due to imposed COVID-19 restrictions. The recently enacted low-value ordinance brings much needed support to small business with business equipment and machinery with a property
value of less than $10,000.”
There are two different types of relief the Assessor may provide to property owners: one for the owners of buildings and land, and another for owners of business equipment and machinery. The low-value ordinance exempts from taxation all business equipment where the aggregate assessed value is less than $10,000. The Assessor would like to ensure that businesses that do not fall below this $10,000 threshold can also obtain relief.
If information is submitted prior to May 7, business owners may include this information on their annual property statement filing (571).
Business owners submitting after May 7 may complete the Business Assessment COVID Questionnaire on the Tulare County Assessor’s website (tularecounty.ca.gov/assessor) or contact the Assessor’s business property division at (559) 636-5159 or AssessorBPP@tularecounty.ca.gov to inquire about the process to provide temporary tax relief for business property.