Business Personal Property Tax Change

Recently the State of Michigan changed Business Personal Property and it's impact on the business taxpayer and the community. All personal property accounts with a true cash value of less than $80,000 are now exempt from taxation.

The business owner is required to file a statement with the local municipality requesting the exemption. Following are two links to the State of Michigan Department of Treasury's website. The first link will lead you to a directive from the State Tax Commission explaining the change. The second link is to the form that must be filed for the exemption. To claim an exemption this form must be received by the Assessor no later than February 10, 2014.