If You Sell or Close Your Business Before January 1
We suggest that you to fill out the Statement of Change form and mail it to our office to let us know so we can update our records.
If the business has been sold, indicate the new owner's name, address, date of sale, and sales price of the equipment, furniture, and fixtures.
If the business has closed, indicate the date the business closed under "Date of Sale". Also indicate how the business property was disposed of. Any business property that you retain may still be assessable and you may still get a Notice to File a Business Property Statement and may still be required to file.
Note that if you receive a Notice to File letter from the Assessor and your business is no longer in operation, do not ignore the notice because you are still required to file even if it is just to notify us of the change in your business. If you receive a Notice to File, log into the eFile system and note that the business has closed.
See Filing Your Business Property Statement for more information
Note: Where a business has closed but you still own equipment previously used in the business, it may still be taxable despite the fact the business is closed. If the equipment you still own can be converted to household uses (that is, could become your personal effects), then it may not be assessable on the following January 1 lien date.
If You Sold or Closed Your Business After January 1
All property is assessable to the owner as of the lien date. The lien date is the date that property taxes for any fiscal year become a lien against a property owner.
The law specifies that all taxable personal property must be assessed as of a specific point in time, and that point is precisely at 12:01 a.m. January 1 (regardless of what transpires after that date). Even if closed shortly after the lien date, a business must still file a BPS and pay taxes for the coming fiscal year on any taxable property they owned on the lien date.