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. Assessor Jeff Prang and his staff walk you step-by-step on how to prepare a Business Personal Property Statement, Form 571-L.Your Secured Property Tax Bill contains your Assessor's Identification Number (AIN) which you will need to complete the transaction. Today's q a session is to help you prepare your business per personal property statement also known as the 571l. NOTICE: This publication is provided as a general resource for California's county tax collectors. Business inventory is personal property but is 100 percent exempt from taxation. Have pen, paper, and tax bill ready before calling. Personal property taxes.