Business Personal Property

 Business Personal Property is the equipment used for operating a business that is not real estate. General explanation – the Michigan Constitution provides for the assessment of all real and tangible business personal property not exempted by law.   Examples of business personal property include furniture and fixtures, machinery and equipment, office and electronic equipment, computer equipment, coin operated equipment and etc.  Rental equipment as well as certain leasehold improvements that are not part of real property. This list is not inclusive.  

 The Assessor sends the statements/exemption forms out the first part of January each year. They are sent to taxpayers that have an operating business within the City of Detroit. If you do not receive a statement but have assessable business personal property you are still required to file. Forms are available at the Detroit Taxpayer Service Center (DTSC) in suite 130 and in the Forms Library outside of suite 130.  Taxpayers can also access the forms via the links listed below or on the Office of the Assessor’s website (www.detroitmi.gov). The forms are also available on the State of Michigan website: www.michigan.gov/treasury. 

 The statutory due date for filing a business personal property statement is February 20th of each year. If you had assessable business personal property on December 31st of the preceding year, you are required to complete and submit a business personal property statement and/or exemption form on or before this due date. 

 

 

Personal Property (Business) | Notice of Discontinuation of Business form

 

Business Personal Property

1. What is business personal property?

Business personal property is the equipment used for operating a business that is not real estate. General explanation – the Michigan Constitution provides for the assessment of all real and tangible business personal property not exempted by law. 

 2. How do I obtain a business personal property number?

Personal Property appraisers create business personal property numbers. The business personal property numbers are created according to the property address of the business.

 3. What are examples of business personal property?

Examples of business personal property include furniture and fixtures, machinery and equipment, office and electronic equipment, computer equipment, coin operated equipment and etc.  Rental equipment, as well as, certain leasehold improvements that are not part of real property. This list is not inclusive.

 4. Where do I get a business personal property statement?

The Assessor sends the statements/exemption forms out the first part of January each year. They are sent to taxpayers that have an operating business within the City of Detroit. If you do not receive a statement but have assessable business personal property you are still required to file. Forms are available at the Detroit Taxpayer Service Center (DTSC) in suite 130  and in the Forms Library outside of suite 130.  Taxpayers can also access the forms via the links listed on the Office of the Assessor’s website (www.detroitmi.gov). The forms are also available on the State of Michigan website: www.michigan.gov/treasury .

Taxpayers can also email [email protected] if they have any  questions or to request statements.

 5. When is the business personal property statement/exemption filing deadline?

The statutory due date for filing a business personal property statement is February 20th of each year. If you had assessable business personal property on December 31st of the preceding year, you are required to complete and submit a business personal property statement and/or personal property exemption form (L-5076) on or before this due date.

 6. What happens if I don't file by the statutory deadline?

If a completed statement of personal property cannot be obtained from a person or entity, or if the assessor suspects that a statement is incorrect, the assessor may examine under oath a person having knowledge of the taxpayer’s property and is authorized to make an estimated assessment in the amount that the assessor considers reasonable and just.

 7. How do I report that the business is closed?

To report a business closed, the taxpayer must file a discontinuance of business form.

Forms are available at the Detroit Taxpayer Service Center (DTSC) in the Forms Library outside of suite 130. Taxpayers can also access the form via the links on the Office of the Assessor’s website (www.detroitmi.gov).