What happens if I simply refuse to file a Business Property Statement?
In such a circumstance, you need to be aware that a number of potentially severe penalties may apply. • If a property owner refuses to comply with a lawful, written request for information from the Assessor then Revenue & Taxation (R&T) Code 501 requires that the Assessor estimate the value of their taxable property and then promptly assess it with whatever information is available. • If the refusal also includes a failure to file or incomplete filing of the BPS, then the Assessor must add a 10% penalty under R&T Code 463. • If an owner willfully conceals or fails to disclose or misrepresents tangible personal property; an additional 25% penalty may be added under R&T Code 502 & 504. • Under R&T Code 503, a 75% penalty may also be added to an assessment for any fraudulent acts or omissions committed by the owner or their agent. • R&T Code 462 also tells us that any person who refuses to make available to the Assessor information lawfully requested in writing by the Assessor pursuant to
