Time is Running Out: Nevada County Business Owners Must File Business Property Statement by May 7, 2024 with No Penalty

Assessor Encourages Businesses to Submit Business Property Statement to Prevent Penalties

Business owners in Nevada County have less than 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 10% penalty.

To ensure compliance with the law, business owners who receive a notice to file letter from the Assessor must either eFile their statement or complete, sign, 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 can choose to file their Business Property Statements (BOE 571-L) electronically or by filling out a paper form. Electronic filing provides several benefits, including saving time and resources as prior year acquisition cost information will automatically carry forward each year. To begin electronic filing, businesses can download a paper Business Property Statement through the e-filing web portal if they have received a notice to file letter.

For those choosing to file a paper statement, businesses must fill out, sign and postmark or deliver it to the Assessor’s Office by May 7 deadline to avoid a 10% penalty. All information on the form will need to be entered each year including prior year costs.

For more information about filing requirements and assistance with re-sending notice to file letters or answering any questions about filing procedures, business owners can visit the Business Property webpage or contact the Assessor’s Office at [business.property@nevadacountyca.gov](mailto:business.property@nevadacountyca.gov) or [530-265-1259](ntouch://call/530-265-1259 “Call 530-265-1259 using Sorenson VRS”) .

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