Nevada County Businesses: Last Chance to File Business Property Statement with No Penalty

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 by the deadline will result in a 10% penalty. There are two options for filing: electronically or by filling out a paper form.

Businesses that receive a notice to file letter from the Assessor 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.

Electronic filing has several benefits, including saving time and resources as prior year acquisition cost information will automatically carry forward each year. Businesses who choose to file electronically will receive confirmation that their Business Property Statement has been successfully filed. On the other hand, those who choose to file a paper statement can download it through the e-filing web portal if they have received a notice to file letter. However, all information, including prior year costs, must be entered on the form each year.

It is important for business owners to note that paper forms must be filled out, signed and postmarked or delivered to the Assessor’s Office by May 7 deadline to avoid a 10% penalty. For more information on how to re-send notice to file letters or answer any questions regarding this topic, business owners can visit the Business Property webpage or contact the Assessor’s Office at business.property@nevadacountyca.gov or 530-265-1259 before May 7th deadline.

In summary, there are less than five weeks left for business owners in Nevada County to file their Business Property Statement with the Assessor’s Office before facing penalties for non-compliance with California law.

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 by the deadline will result in a 10% penalty. There are two options for filing: electronically or by filling out…

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