What is the Contractor required to report to the County Assessor?

The requirement for the Contractor to report information regarding possessory interests to the County Assessor is based on the importance of accurately assessing property value and tax obligations. Possessory interests refer to the right to possess and utilize property even if the individual or entity does not hold legal title to it. This information is crucial for the County Assessor because it impacts property tax assessments and ensures that all interests in property are accounted for. By reporting such interests, the Contractor assists the County in maintaining an accurate property tax system that reflects the true nature of property use and ownership within its jurisdiction.

Ownership of physical assets, changes to service agreements, and cumulative financial outcomes, while relevant to different aspects of project management and reporting, do not directly relate to the specific requirements set forth by the County Assessor concerning property tax assessments.