Personal Property Statement With Replacement Cost In Orange
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5 steps to fill out a business personal property rendition quickly and accurately Review your property tax accounts. Take stock of your assets. Select the appropriate business personal property rendition forms. Prepare the personal property renditions. File your business personal property rendition packages.
The Form 571L or 571A constitutes an official request that you declare all assessable business property situated in this county which you owned, claimed, possessed, controlled or managed on the tax lien date. The form is approved by the State Board of Equalization (BOE) but forms are administered by the county.
Orange County levies a personal property tax on the following types of personal property: Automobiles. Trucks. Motor homes.
Business Personal Property includes all supplies, equipment and any fixtures used in the operation of a business. Exempt from reporting are business inventory, application software and licensed vehicles (except Special Equipment (SE) tagged and off-road vehicles).
Organizations organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational, or other specified purposes and that meet certain other requirements are tax exempt under Internal Revenue Code Section 501(c)(3).
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. Personal Property is all property except real estate and can include business equipment, vessels, aircraft, vehicles and manufactured homes.
Certain properties, or portions of properties, are exempt from taxation under the California Constitution. The most common types are homeowner, disabled veterans, welfare, charitable, and institutional exemptions. Visit the Assessor's Exemption webpage​ for more information.