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

Time is Running Out: Nevada County Business Owners Must File Business Property Statement by May 7th

Business owners in Nevada County have only five weeks left to file their Business Property Statement with the Assessor’s Office. The filing period is open from January 1 through April 1, with May 7, 2024, being the last day to file without a penalty. There are two options for filing: 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 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 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

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