Tax assessor questionnaire

[Zheath Sanchez]

In May of 2018, I purchased a commercial property in Stanislaus County California for $160,000. The building is zoned light industrial which consist of a 3000 soft. Building and a 4000 sqft. Fenced vacant lot that leads to an alley. My father had leased the building for the past 8 years running his bar business out of it. The owner decided to sell and I purchased the building using cash, a home equity line, and some seller financing. I just received a "Sales questionnaire" from the County Tax Assessor. The questionnaire states I have 15 days to reply so that the questionnaire can establish the market value of my property. I only have experience with residential income (duplex and triplex) purchases and don't have any experience with commercial. Are these questionnaires standard for establishing property tax price? The questionnaire asks standard questions such as how much I paid for the property and whether its an investment or owner occupied. But tit hen goes on to ask questions such as, terms of financing, interest rate, income and expense data,vacancy data, and many more details. I only purchased this property because if I didn't, who ever did, would raise the rent on my father and he would be out of business. I honesty don't know the answer to many of the questions such as, net leasable area, base rent per square foot, maintenance, reserves etc. How can I accurately answer the questionnaire as I am learning as I go. I don't see how the questions establish a tax rate, other than an annual percentage on the price paid. Does any one have any input on how the questionnaire will affect how much I pay in annual taxes on the property? Any input would be greatly appreciated.