Assessor Encourages Businesses to Submit Business Property Statement to Prevent Penalties

Time’s Running Out: Business Owners in Nevada County Face Deadline to File Business Property Statement and Avoid Penalties

Business owners in Nevada County have only a few weeks left to file their Business Property Statement with the Assessor’s Office before facing a 10% penalty. The deadline for filing is May 7, 2024, and businesses have two options: they can either eFile their statement or fill out a paper form.

Notice to file letters were sent out in late January, and businesses that received one must comply with the law by either eFiling their statement or completing, signing, and returning 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 offers several benefits, including saving time and resources as prior year acquisition cost information will automatically carry forward each year. Businesses who choose to eFile will receive confirmation that their Business Property Statement has been successfully filed. On the other hand, those who opt for a paper statement can download it through the e-filing web portal if they have received a notice to file letter. However, all information on the form must be entered manually each year.

To avoid penalties, businesses must fill out, sign, and postmark or deliver their paper forms to the Assessor’s Office by May 7. For more information on how to re-send notice to file letters or answer any questions regarding this matter, business owners can visit the Business Property webpage or contact the Assessor’s Office at business.property@nevadacountyca.gov or 530-265-1259.

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