What is a Jeopardy Assessment?
When the City becomes aware of a business closing, selling, transferring, or downsizing, the Treasurer will issue a “jeopardy assessment”. A jeopardy assessment is an affidavit stating that the taxpayer named has certain personal property on tax day and that the treasurer either knows or has good reason to believe that the taxpayer has removed or is about to remove any of the personal property. It is filed with the Register of Deeds and becomes a lien on the property, which is due and payable immediately. The same laws for collection apply as personal property.
