Nevada County Business Owners: Don’t Miss the May 7 Deadline to File Your Business Property Statement

Assessor Encourages 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 file on time can result in a 10% penalty.

Nevada County Assessor Rolf Kleinhans is reminding business owners of the importance of filing their Business Property Statement (BOE 571-L) before the deadline. The statement provides information about a business’s property and assets and is used to determine property tax.

Businesses can choose to file their statements electronically or by filling out a paper form. Those who receive a notice to file letter from the Assessor are required by law to either eFile their statement or complete, sign, and return a paper statement. 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.

Electronic filing offers several benefits, including saving time and resources by automatically carrying forward prior year acquisition cost information each year. Businesses who choose this option will receive confirmation that their Business Property Statement has been successfully filed.

For those choosing to file a paper statement, businesses 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, will need to be entered on the form each year. Paper forms must be filled out, signed, and postmarked or delivered to the Assessor’s Office by the May 7 deadline to avoid a penalty.

The Assessor’s Office provides resources for businesses struggling with the filing process, including re-sending notice to file letters or answering any questions on their website at [BusinessProperty webpage](http://businessproperty webpage) or email at [business.property@nevadacountyca

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