This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Machinery, equipment, tools, furniture, fixtures, and leasehold improvements held or used in connection with a trade or business are taxable. In addition, most boats, aircraft and mobile homes are also taxable. Supplies on hand, demonstration equipment, and construction in-progress are also assessable.
"Tangible personal property." "Tangible personal property" means personal property which may be seen, weighed, measured, felt, or touched, or which is in any other manner perceptible to the senses.
Business personal property is all property owned or leased by a business except real property. Business inventory is personal property but is 100 percent exempt from taxation.
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If you have a touch-tone telephone and know the parcel number of the property, you may call the Treasurer-Tax Collector's automated 24-hour information line at (951) 955-3900 to obtain a duplicate bill.
Under Article XIII, Section I of the California Constitution, all property is taxable unless it is exempt. Each year Personal Property is reassessed as of lien date, January 1st.
Deductible personal property taxes are those based only on the value of personal property such as a boat or car. The tax must be charged to you on a yearly basis, even if it's collected more than once a year or less than once a year.
You can print a duplicate tax bill from this web site, or call (909) 387-8308 and speak to one of our tax specialists.
You must report all business assets, including all fully depreciated assets and/or expensed assets. Do not report licensed vehicles, computer application software, and goods held for sale, rent, or lease (i.e., inventory).
