Nevada County Assessor advises businesses to submit Business Property Statement to prevent penalties

Business owners in Nevada County have until May 7, 2024 to file their Business Property Statement with the Assessor’s Office. The filing period is open from January 1 through April 1, and failure to submit a statement within this timeframe could result in a 10% penalty.

Assessor Rolf Kleinhans is reminding business owners of the importance of submitting their statements on time. He emphasized that businesses have two options: they can file electronically or by filling out a paper form. If a business receives a notice to file letter from the Assessor, they must either eFile their statement or complete, sign, and return a paper statement to the Assessor’s Office. Additionally, any business that owns Personal Property and/or Fixtures with a total combined cost of $100,000 or more must file a Business Property Statement even if not requested by the Assessor.

Businesses who choose to file electronically received notice to file letters in late January with the necessary information for electronic filing. One of the main benefits of electronic filing is that once the prior year acquisition cost information is entered into the eFile system, it will be automatically carried forward each year, saving time and resources. Businesses will also receive confirmation that their Business Property Statement has been successfully filed, providing peace of mind to the business owner.

For those who prefer to file and mail a paper statement, they can download a paper Business Property Statement through the e-filing web portal if they have received a notice to file letter. It is important to note that all information, including prior year costs, must be entered on the form each year. Paper forms must be filled out, signed, and postmarked or delivered to the Assessor’s office by May 7 deadline or else they will be subject to a 10% penalty.

For more information about this process and how it works, business owners are encouraged to visit the Business Property webpage or email assessor’s office at [business.property@nevadacountyca

By Sophia Gonzalez

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