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Form 571 L Los Angeles

Form 571 L Los Angeles

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Instructions and help about 571 l la county

hello welcome to the la county office of the assessor business personal property statement presentation assessor jeffrey prang would like to welcome you to this presentation today we're going to present to you an overview of the property tax system business property statements filings what is personal property all property is taxable unless it's exempt personal property is all property which is not real estate taxable tangible personal property for example machinery equipment office furniture supplies they're all taxable non-taxable tangible personal property include things like household goods personal effects and business inventories non-taxable intangible property include items such as cash bank accounts bonds deeds liquor licenses and insurance policies real property is classified as land and improvements which are like structures and buildings here are some visual examples of accessible business personal property in a warehouse you might find racks forklift

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