If a business owner fails to submit a personal property statement, how does the assessor proceed?

When a business owner fails to submit a personal property statement, the assessor must still determine the value of the business's personal property for taxation purposes. In this situation, the assessor will set an assessment that they believe is fair and just based on available information. This process often involves considering various factors related to the business, such as similar properties and current market trends, as well as professional judgment.

The purpose of this approach is to ensure that the assessment reflects an accurate representation of the property’s value even in the absence of specific details from the business owner. This method aligns with the principle of fairness in taxation, aiming to provide an assessment that is reasoned and justifiable, rather than arbitrary or based purely on prescriptive formulas that may not capture the unique aspects of the business in question.

This way, even without the personal property statement, the assessor fulfills their duty to ensure that the business is taxed appropriately based on reasonable estimations of value.