What is business personal property? What are examples of inventory and supplies?Tangible property owned, claimed, possessed or controlled in the conduct of a profession, trade or business may be subject to property taxes. All owners of taxable personal property. Our records indicate that you were doing business at this location on January 1. Otherwise, the Assessor must assume that you still own and are operating the business and have failed to declare your taxable personal property. It then discusses the roles of key players in property tax assessment—California voters, the Legislature, the California State Board of. The Annual Report is a required filing for all business entities, regardless of whether the business owns property,. Where you apply for Medicaid will depend on your category of eligibility. The Cooperative and Condominium Tax Abatement reduces the property taxes of eligible condominium and co-op owners.