Assessor-Recorder Carmen Chu Develops a New Form To Help Short-Term Rentals File Their Annual Business Statements
***PUBLIC SERVICE ANNOUNCEMENT***
ASSESSOR-RECORDER CARMEN CHU DEVELOPS A NEW FORM
TO HELP SHORT-TERM RENTALS FILE THEIR ANNUAL BUSINESS STATEMENTS
Most of the short-term rentals filed last year do not need to file again
SAN FRANCISCO – Every year in February, the Office of the Assessor-Recorder mails out notices to remind business owners to file their business personal property statements, including short-term rental businesses. This year, Assessor-Recorder Carmen Chu announces her office has developed a new form to help simplify the filing process and most of the short-term rentals filed last year will not be required to file again.
Last year was the first year short-term rentals in San Francisco were required to file a business personal property with the Office of the Assessor-Recorder. Business Personal Property is property, excluding land and improvements, used to operate a business. Items such as furniture, kitchen appliances, washing and drying machines in rentals are considered business personal property.
In 2016, about 1,200 short-term rentals filed their business personal property with the Office of the Assessor-Recorder and a majority of them were considered low value. This year, most of these rentals are not required to file again as their business personal property will be assessed based on existing information.
For short-term rentals who are filing for the first time or are required to file again, the Office of the Assessor-Recorder has develops a new form, Form 571-STR, to help simplify the filing process. It is a one-page double-sided form with common items listed.