When your business sells
If you are selling or purchasing a business, it is important to contact the Assessor's Office to ensure that there are no outstanding taxes due on the personal property (equipment associated with the business) you are selling or purchasing.
Notifying the Assessor
If your business sold, complete the Business Sold section on your Business Personal Property Return.
- give the date you sold the business.
- provide Name and Address of new owner
- indicate on the asset list which assets transferred with sale
- provide a copy of the sale document, if available
If you are reporting a business sale and do not have a Business Personal Property Return please complete a file an
Personal property equipment lists are confidential in the State of Oregon. The seller must give an for Multnomah County to disclose the existing asset list to the new owner.
Important notes regarding tax liability:
If you were in business on January 1, you are responsible for filing a Business Personal Property Return and paying taxes this fall. Multnomah County does not prorate tax liability for Buyers and Sellers. This is the responsibility of the Property Owner.
Business Personal Property taxes become a lien on the personal property of a business on July 1st or the day before the sale of personal property (ORS 311.405).
NOTE: If you report your business has sold, but fail to provide new owner information, the County will not transfer the ownership and the account will remain your financial responsibility.