By state law, the county assessor is responsible for the assessment of real and personal property, including the calculation of taxes. For example, a real property appraiser checking leasehold improvements cannot verify the listing without an itemization.The Annual Report is a required filing for all business entities, regardless of whether the business owns property,. Land and improvements are considered real property. Taxpayer—All individuals and business entities who own, lease or have a beneficial interest in taxable tangible property located within. Business inventories are exempt from property tax. However, supplies consumed in the operation of a business are taxable. If taxpayer name or address has changed or is incorrect, provide correct name and address in the space provided. 2. Elaisa Romero, Bureau Chief. When completing the form you must: 1.
