Personal Property Statements are due on February 20th to the local jurisdiction in which the personal property is located on tax day; December 31st.
The State Tax Commission adopted new personal property multiplier tables for the valuation of personal property in the State of Michigan starting with the 2000 Assessment Roll. In order to learn more about the procedures to value personal property in the State of Michigan, please read the State Tax Commissions Bulletin 12 of 1999, along with other bulletins, at the Michigan Department of Treasury website.
The form must be completed properly. Failure to return a Personal Property Statement or returning an uncompleted statement will cause our Department to estimate the assessment on your personal property and possibly audit your account. Also, failure to file this form by its due date will jeopardize your appeal rights with the Michigan Tax Tribunal.
The person who completes your income tax statements should be able to prepare the Personal Property Statement for your business.
Due to recent legislation regarding personal property taxes, there may be significant changes in the way you file your annual personal property statement. Please read the Eligible Personal Property Notice thoroughly. Beginning December 31, 2013 eligible personal property is exempt from taxation. In order to be eligible personal property and qualify for the exemption, the personal property must meet ALL of the conditions listed in the notice. The Affidavit is due by February 10th of each year.
Please see State Tax Commission Bulletin 11 of 2013 for more details regarding the citeria for exemption and taxpayer responsibilities. Do NOT file the exemption affidavit unless you qualify. If you do NOT qualify, you must file the 2017 Personal Property Statement by February 20, 2017.