Tax Relief

Fresno Assessor requires info to supply Covid-19 tax relief

Fresno County Assessor Paul said

published March 25, 2021 – 12:55 p.m.
Written by The Business Journal Staff

Fresno District Assessor Recorder Paul Dictos is asking business owners to do an assessment of their equipment in order to qualify for the Covid-19 tax break.

Dictos said in a press release that there are two types of facilities his office can provide to owners. This includes one route for the owners of the buildings and land and another route for the owners of business equipment and machinery.

“… It is companies like hotels, restaurants and retail that are hardest hit,” said Dictos. “The government-imposed COVID-19 restrictions have hit many companies hard. For others, there was no measurable impact. The assessor’s office intends to make proactive reductions where warranted. “

To help the entrepreneurs, he invites the owners of businesses such as movie theaters, gyms, and fitness facilities to submit information about their equipment for evaluation. The Assessor’s Office is required by law to evaluate business personal property such as machinery and equipment worth more than $ 5,000 by January 1st.

“Obviously, many companies have suffered from the COVID-19 on-site arrangement and other health restrictions,” Dictos said. “We intend to test possible impairments if the market value of devices and machines has declined.”

To this end, the Assessor’s Office is legally obliged to have qualitative evidence to support a reduction. To that end, his office urges business owners to proactively provide information on how long they were closed or how long the hours of operation were reduced in 2020, what may have impacted business income, and the extent to which the use of business equipment was impacted.

The information can be stored using the online filing system Corporations are required to submit ownership declarations by April 1st and May 7th at the latest with no penalty.

Related Articles