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Michigan Deadline for Personal Property Taxes Feb. 20

January 8, 2020

Michigan Deadline for Personal Property Taxes Feb. 20

Does your business own personal property (i.e. equipment, furniture, computers, etc.)? If so, you may owe property taxes on these assets, and the filing deadline for Michigan is February 20. For businesses that own property with a True Cash Value (TCV) of $80,000 or more as of Dec. 31, 2019, Form 632 will need to be mailed to your local assessor's office by this deadline. Alternatively, Form 5278 will need to be submitted for eligible manufacturing personal property.

If your business has personal property under the TCV threshold, you can file a Small Business Exemption, Form 5076. However, starting with the 2019 filing year, Michigan made legislative changes regarding this filing requirement. Starting in 2020, businesses eligible for the exemption no longer have to refile each year, so long as they do not go above the threshold. Some municipalities may send correspondence letting you know that you are not required to refile this year, however others may not. In order to be certain, please contact your local assessor's office to confirm acceptance of your filed 2019 Small Business Exemption Form.

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