Notices of the supplemental assessments are mailed out to property owners prior to the issuance of tax bills, and may be appealed. Unlike real property, business property is appraised annually. The owners of businesses must file a property statement every year detailing costs of supplies, equipment, and fixtures for each location owned. Property statement forms are mailed each year. This annual statement is required unless the property qualifies for direct assessment.
Business inventory is exempt from taxation.
Their value is determined by reviewing the purchase price and the sales of comparable boats and aircraft. Information on their location and ownership is obtained from the Department of Motor Vehicles, the United States Coast Guard, the Federal Aviation Administration and onsite inspections.