Unsecured (Personal) Property Taxes are ad-valorem (value based) property taxes that are billed to the owner of record as of January 1 of each year. What is business personal property?What are examples of inventory and supplies? Assessor Jeff Prang and his staff walk you step-by-step on how to prepare a Business Personal Property Statement, Form 571-L. Business Property Statement (571-L Forms). County of Los Angeles Office of the Assessor. NOTICE: This publication is provided as a general resource for California's county tax collectors. The office maintains records of real estate, personal property, property transfers, property tax exemptions, exclusions, deferrals and billing information.