Personal Property Form 2023 In Riverside
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
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FAQ
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.
Personal property taxes are an ad-valorem (value based) property tax that is the liability of the person or entity assessed for the tax. Property that is not real property (such as land) is considered personal property and therefore is issued as an unsecured tax 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.
Scheduled personal property is a supplemental insurance policy that extends coverage beyond the standard protection provided in a homeowners' insurance policy. By purchasing a scheduled personal property policy, owners can ensure full coverage of expensive items, such as jewelry, in the event of a claim.
One of the largest categories of tangible, taxable personal property in California is the highway-licensed automobile and truck fleet. The property tax on these vehicles is collected and distributed to local governments by the California Department of Motor Vehicles as a part of the vehicle registration process.
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.
What items are subject to use tax. Generally, if the item would have been taxable if purchased from a California retailer, it is subject to use tax. For example, purchases of clothing, appliances, toys, books, furniture, or CDs would be subject to use tax.
Examples of tangible personal property include vehicles, furniture, boats, and collectibles. Digital assets, patents, and intellectual property are intangible personal property. Just as some loans—mortgages, for example—are secured by real property like a house, some loans are secured by personal property.
Personal property depends on a surprisingly simple test: Can you physically move it? The outcome of that test determines the distinction between real property and personal property, which in turn has real implications for taxation.
The tax rate is $0.55 for each $500 or fraction thereof when the consideration or value of the interest or property conveyed, exclusive of the value of any lien or encumbrance remaining at the time of sale, exceeds $100. Within the City of Riverside the tax rate is $1.10 per $500.
