Trenton City Hall: 2800 Third St. Trenton, MI 48183 | Phone: (734) 675-6500 Fax: (734) 675-4088

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Personal Property

 

Public Act No. 206 of 1893 of Michigan State law mandates that all businesses must annually file a declaration of Personal Property with the Assessor of the jurisdiction where the property is situated on tax day each December 31.

See the Statement and Instructions on Page 5 of the current Personal Property Statement and also MCL 211.8 and 211.9 of the General Property Tax Act.    The Michigan Department of Treasury's website for all Real and Personal Property Statements. Here are the Michigan State Tax Commission's Frequently Asked Questions regarding Personal Property.

For the 2017 Property Tax Year:

 

The  2017 Personal Property Statement (Form L-4175) are due February 20, 2017.   Failure to return a Personal Property Statement or returning an uncompleted statement will require the Assessor to estimate the assessment of 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 State Tax Commission and/or Michigan Tax Tribunal.

If a business has removed all of the personal property, formerly in your possession, from this assessing unit before tax day, December 31, 2016, they still must sign and return the form with a declaration of why no assessable property exists.

If your business has assessable personal property in the City of Trenton on tax day, December 31, 2016, you must submit a completed Form L-4175 to the assessor of the community where the property is located by the statutory due date, even if the assessor does not send you a form to complete.  If you are a new business or new to Trenton and need guidance, please contact the Assessor's Office and/or your accountant for assistance.

 

Small Business Tax Exemption for 2017

You may qualify!  To be eligible, a taxpayer must meet ALL of the following:

  • The exemption must be properly claimed (this is done by timely filing the affidavit by February 10) 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 industrial personal property or commercial personal property if not exempt and

  • The combined true cash value of all industrial personal property and commercial personal property owned by, leased by or in the possession of the owner or a 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 a person that, directly or indirectly controls, is controlled by, or under common control with the person that previously owned the property.

NOTE: Analysis is necessary beyond just doubling last year's assessment.

lf you feel you qualify for this exemption, please fill out and return by February 10, 2017, the "Affidavit of Owner of Eligible Personal Property Claiming Exemption from Collection of Taxes (As of 12-31-2016)," Michigan Department of Treasury Form number 5076.

Affidavit of Owner of Eligible Personal Property Claiming Exemption from Collection of Taxes (Form 5076)

To claim this exemption, the Affidavit must be received by the Assessor no later than February 10, 2017. NOTE: This Affidavit exempts your personal property for 2017 tax year only!   To continue to receive this exemption, a new affidavit must be filed each year by the statutory deadline.

An exemption may be denied by the local assessor if it is determined the business does not qualify for this exemption.

The taxpayer must keep adequate books and records relating to:

  • The description - Date of purchase, lease or acquisition - The purchase price, lease amount, or value of all industrial personal property and commercial personal property owned by, leased by or in the possession of that person or a related entity - Records must be kept for 4 years. These records are subject to audit.

 

Further information regarding this exemption and other property tax information can be found on our web site:
www.michigan.gov

 

For the 2016 Property Tax Year:

The  2016 Personal Property Statement (Form L-4175) were due February 20, 2016.  Contact our office if you have any questions related to Personal Property for the 2016 tax year at (734) 675-6810.


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