Assessor Sets Business Property Webinar as Deadline Nears
Businesses to Get Step-by-Step Instructions on Vital Filing
LOS ANGELES, CA - Los Angeles County Assessor Jeff Prang is set to host a webinar of vital importance to businesses regarding a deadline that’s fast approaching that sometimes is overlooked and shouldn’t be — the Business Property Statement deadline of April 1, with a penalty if not filed by May 7.
Los Angeles County Assessor Jeff Prang is hosting the webinar about the Business Property Statement on April 15 from 11:00 am to 12:00 pm PST and all businesses are encouraged to register and attend.
The webinar will provide answers to many common questions regarding the business statements, also known as 571-L. These questions include why a business received one in the first place (the Assessor’s Office is required to mail out statements to businesses) does the business have to file a 571-L, and step-by-step instructions on how to fill out the form.
Details
Wednesday, April 15, 2026
11 am – 12 pm PST
https://assessor.lacounty.gov/news-information/events
The Business Property Statement provides a basis for determining property tax assessments for business equipment and related fixtures. The Assessor’s Office mails the forms to most commercial, industrial and professional firms in Los Angeles County.
Business property includes, but is not limited to, machinery, computers, equipment (e.g. FAX machines, photocopiers), telephones, furniture (e.g. desks, chairs, bookcases) and supplies.
Businesses with personal business property with an aggregate cost of $100,000 or more must file a statement each year by April 1. This is required by state law. However, the state does allow a business until May 7 to file but after that a 10% penalty will be applied.
Generally, businesses with total business property that cost less than $100,000 are not required to file a Business Property Statement annually. Instead, a value may be established based on an initial filing or by an on-site appraisal. That value may be adjusted by subsequent annual on-site appraisals. Please note that if the Assessor’s Office mails you a form, you are required by law to return the form regardless of the amount of personal property.
The webinar also will have subject-matter experts offering instructions in several languages along with English including Chinese, Spanish, Farsi, Russian and Armenian.
The Los Angeles County Assessor’s Office encourages businesses to attend the webinar on April 15 from 11:00 am – 12:00 pm.
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