Who must file a property statement?
Per Revenue and Taxation Code, Section 441 you must file a statement if . . . The Assessor’s office has sent you a property statement OR You have taxable personal property with a total cost of $100,000 or more located within Santa Clara County as of January 1 of each year even if no property statement is sent to you. Failure to complete and return the property statement will result in the Assessor estimating the value of your business property and adding a 10% penalty to the assessment. (Revenue and Taxation Code, Sections 441, 463 and 501).
