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Personal Property Information

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Personal Property Statements are due on February 20th to the local jurisdiction in which the personal property is located on tax day; December 31st.

 

2019 Personal Property Statement

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.

 

State Tax Commission Bulletins

The Personal Property Statement must be completed properly. Failure to return a Personal Property Statement or returning an incomplete statement may cause the Assessor's Office 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.

 

Small Business Property Tax Exemption

Due to recent legislation regarding personal property taxes, there may be significant changes in the way you file your annual personal property statement. 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 instructions to the form. The Affidavit is due by February 20th of each year.

Eligible Personal Property

In order to be eligible personal property and qualify for the exemption, the personal property must meet ALL of the following conditions:

The exemption must be property claimed on Form 5076

The property must be classified as industrial or commercial personal property.

The property is not leased to or used by a person that previously owned the property or a person that, directly or indirectly controls the property.
The combined true cash value is less than $80,000. This total includes all industrial or commercial personal property in Ypsilanti Township.

Beginning December 31, 2018 once a Small Business Property Tax Exemption form is filed and approved, a business owner is no longer required to file the form on a yearly basis. The exemption will be maintained until the business is no longer eligible for the exemption. The business owner must then rescind the exemption. If the business no longer qualifies for the exemption, the business owner must also then file the Personal Property Statement on a yearly basis.

 

Please see State Tax Commission Bulletin 11 of 2013 for more details regarding the criteria for exemption and taxpayer responsibilities. Do NOT file the exemption affidavit unless you qualify. If you do NOT qualify, you must file the 2019 Personal Property Statement by February 20, 2019.

2020-01-01
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Charter Township of Ypsilanti  •  7200 S. Huron River Dr. Ypsilanti, Mi 48197  •  (734) 484 - 4700

Mon. - Fri., 8:30am - 4:30pm  •  Closed 12:00pm - 1:00pm daily