Governor Snyder signed the legislation (PA 402 of 2012 - Eligible Personal Property Exemption) to phase out the personal property tax, which takes effect December 31, 2013 and is tied to the November 2014 Election. Beginning December 31, 2013; eligible personal property will be exempt from taxation. In order to be eligible, a taxpayer MUST meet all of the following:
- The exemption must be properly claimed by filing the Affidavit AND
- The personal property must be classified as industrial personal property or commercial personal property as defined in MCL 211.34c or would be classified as such if not exempt AND
- The combined true cash value of all industrial personal property and commercial personal property owned by, leased by or in possession of the owner or the related entity claiming the exemption is less than $80,000 in the local tax collecting unit AND
- The property is not leased to or used by a person that previously owned the property or the person that, directly or indirectly controls, is controlled by, or under common control with the person that previously owned the property.
Each business taxpayer of record will be mailed the Personal Property Statement form as well as the Affidavit of Owner of Eligible Personal Property Claiming Exemption From Collection of Taxes (as of December 31, 2013). The Affidavit MUST be filed with the Assessor no later than February 10, 2014. Businesses that do not qualify for the exemption must file the Personal property Statement form by February 20, 2014. You may still download and print a hard copy of the 2014 State of Michigan form by clicking on the link below. If you received a personal property statement in error, were not in business as of December 31st; changed locations or sold your business please contact your local assessor. If you were in business on December 31st and cease operations during the year, you will be liable for the personal property taxes for the full year unless exempt as per Affidavit.
If you have any questions, please contact your local assessor. Personal property taxes are a statewide tax as per the Michigan General Property Tax Act.
Click here for 2014 Idle Equipment, Obsolete Equipment, and Surplus Equipment Report Form