Business Personal Property
All businesses are required
under MCL 211.21 to file a Personal Property Statement (Form L-4175) with the city in which the business has personal property by February 20th of each year. The Michigan Constitution provides for the assessment of all real and tangible personal property not exempted by law.
Business Personal Property generally consists of furniture and fixtures, machinery and equipment, computers, etc. All tangible personal property in your possession as of December 31st of the preceding year, including fully appreciated and expensed assets, must be reported.
The Personal Property Statement form is mailed each year in December. If you do not receive a form you can print a copy from the state treasury web site at
Personal Property Tax Exemptions:
- Personal Property Valued Less than or Equal to $80,000
- Small Business Property Tax Exemption Claim (Form 5076)
The combined true cash value of all of the personal property which is owned, leased or possessed by the taxpayer, must be less than $80,000. To claim the exemption, form 5076 must be filed with the assessor no later than February 20 of the assessment year.
- Personal Property Valued Greater than or Equal to $80,000, but less than $180,000
In order to claim an exemption for personal property valued at $80,000 or more but less than $180,000, Form 5076 along with
Form 632 Personal Property Statement must be filed ANNUALLY
where the personal property is located no later than February 21, 2023 (postmark is acceptable). Late filed forms may be filed directly with the March Board of Review prior to the closure of the March Board of Review.
- Eligible Manufacturing Personal Property Tax Exemption Claim (Form 5278)
For qualifying manufacturing businesses, form 5278 is filed with the assessor no later than February 20 of the assessment year.
These forms can be found under the Assessing Department’s webpage at
Personal Property. You can contact the Assessing
Department for any questions regarding assessments and property information at
State of Michigan Tax Site