Real
Property
Under
California Constitution Article XIII A (Proposition 13) real
property is reappraised only when a change in ownership occurs, or
when new construction takes place. Generally, a change in ownership
is a sale or transfer of property, while new construction is any
improvement to property which is not considered normal maintenance.
Except under special situations, real property assessments may not
be increased by more than 2% annually.
Mobilehomes
All mobilehomes purchased new after June 30, 1980 and those on
permanent foundations are subject to property taxes. As with real
property, the assessed value of mobilehomes cannot be increased by
more than 2% annually, unless there is a change in ownership or new
construction. For more information, call (650) 363-4500.
Business Personal Property
Unlike real property, business personal property is reappraised
annually. If you own taxable personal property that has an aggregate
cost of $100,000 or more on January 1, you must file a property
statement by April 1 detailing costs of all supplies, equipment,
fixtures, improvements, land improvements, and land as well
as other information requested on the form at each location
you own. For owners with an aggregate cost of less than $100,000,
the Assessor may request that a statement be filed.
Small business
owners may be exempt from personal property tax assessment in San
Mateo County if their personal property is valued at $5,000 or less.
However, they are still required to file a statement if requested by
the Assessor. For more information, call (650) 363-4501.
Marine Craft and Aircraft Assessments
Boats and airplanes are taxable and are appraised annually
at a value determined by reviewing the purchase price and
the sales of comparable boats and airplanes. Information on
their location and ownership is obtained from the Department
of Motor Vehicles, the Federal
Aviation Administration, and on-site inspections. For
more information, all (650) 363-4501. |
