As a result of recent State legislation, the purchase of a mobile home park by the residents will not cause a reassessment. Property taxes will remain at their current level and be prorated among the spaces. Unlike real property, business personal property is appraised annually. The owners of all businesses must file a property statement each year with the Assessor's Office detailing the cost of all their supplies, equipment, and fixtures at each location. This is required unless the Assessor's Office has already established the taxable value of the business and sent out a Notification of Value Card.
Business inventory is exempt from taxation.
A. Boats and aircraft are taxable and appraised annually at full market value. Their value is determined by reviewing purchase information and comparable sales. Information on their location and ownership is obtained from the State Department of Motor Vehicles, the United States Coast Guard, the Federal Aviation Administration, and on-site inspections of all marinas and airports. This type of property tax relief generally applies to recently purchased property. Appeal forms can be obtained and must be filed with the Clerk of the Board at 1600 Pacific Highway, Room 402, San Diego, CA 92101-2471.