The lien date (for most states) for personal property is January 1st. April 1st is the final due date for filing and in California May 7th is the last date to file before accruing a penalty.
For most people, the filing of the annual business property statement is basic. What most people do not consider are the volumes of state rules, regulations, and court cases that determine what is or is not taxable. Most companies do not have the time or resources to become formally educated in all nuances of property tax law. These are the companies who are uncertain if they are paying more that their fair share of property taxes.
Your property tax base may be reduced legally when all aspects of property tax law are taken into consideration. If you have any questions regarding the filing of your next Business Property Statement 571-L, or if you would like to find out if your asset base has been overvalued in the past please contact our Compliance Department.