FAQs • Placer County, CA • CivicEngage

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I closed my business and the business assets are not being used. Why do I have to file a property statement or pay taxes?

Business property not in use but located within the county is still assessable. If you have received a Business Property Statement you should complete it for the remaining property and add a letter of explanation as to where and what the remaining assets are.

If you have not received a Business Property Statement, you should complete and return a Business Property Statement (PDF) to the Placer County Assessor’s Office. There is a section regarding property remaining after a business closure. Based upon the information you provide, a review of your assessment will be completed.

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Assessor - Business Property - Sale of a Business

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1. I closed my business and the business assets are not being used. Why do I have to file a property statement or pay taxes?

Business property not in use but located within the county is still assessable. If you have received a Business Property Statement you should complete it for the remaining property and add a letter of explanation as to where and what the remaining assets are.

If you have not received a Business Property Statement, you should complete and return a Business Property Statement (PDF) to the Placer County Assessor’s Office. There is a section regarding property remaining after a business closure. Based upon the information you provide, a review of your assessment will be completed.

2. What should I do if I've closed, sold, or disposed of my business assets after January 1?: Please complete, sign, date, and return a Business Property Affidavit (eFile) to the Placer County Assessor’s Office. Under California Law, the owner of assessable business property at 12:01 a.m, January 1 (lien date) is responsible for taxes and must be assessed at full value. Sale, closure, or disposal of property after the lien date does not relieve the Assessee of the obligation to report and pay taxes.

3. What should I do if I've closed, sold, or disposed of my business assets before January 1?: Please complete, sign, date, and return a Business Property Affidavit (eFile) to the Placer County Assessor’s Office. Based upon that affidavit, a review of your assessment will be completed. If business property is still located within the county, it may still be assessable. Non-use or storage of a business asset is not the determining factor for its assessability.