PERSONAL PROPERTY


PERSONAL PROPERTY STATEMENT

All owners or possessors of assessable personal property are required to file a Personal Property Statement Form 632, no later than Thursday, February 20, 2020 with the assessing officer of the unit where the property has situs. Situs is the location of the personal property on tax day, December 31, of each year. The owner is required to file on forms prescribed or approved by the State Tax Commission.

Personal Property Statement (Form 632) must be filed with our office by Thursday February 20, 2020.  Postmark NOT accepted.

SMALL BUSINESS EXEMPTION

Starting in 2014, all industrial and commercial personal property owned by a business within a local taxing unit will be exempt if the combined true cash value of all such property owned by, leased to, or used by the business within the unit is less than $80,000.


If you qualify for this exemption, please fill out Form 5076 - Affidavit of Owner of Eligible Personal Property Claiming Exemption From Collection of Taxes. 

The State Tax Commission has determined that the filing deadline is Thursday, February 20, 2020 which means received by our office or postmarked no later than Thursday, February 20, 2020. If an affidavit is not timely filed, we are prohibited to grant the exemption, unless the taxpayer petitions the March, 2020 Board of Review to accept the late filing.

Beginning with the 2019 filing, a personal property taxpayer is no longer required to file form 5076 annually.  If your business qualifies for the Small Taxpayer Exemption and you did not file form 5076 for the 2019 tax year you will need to file form 5076 in 2020 in order to stop annual filing requirements. Once granted they will continue to receive the exemption until they no longer qualify for the exemption. Once they no longer qualify, the taxpayer is required to file a rescission form 5618 and a personal property statement Form 632 no later than February 20th of the year that the property is no longer eligible. Failure to file the rescission form will result in significant penalty and interest as prescribed by P.A. 132 of 2018.

Your exemption may be denied by the assessor if it is determined you do not qualify for this exemption. 

ELIGIBLE MANUFACTURING PERSONAL PROPERTY (EMPP)

Starting December 31, 2015 Qualified new personal property and qualified previously existing personal property located on occupied real property is exempt from taxation.  To claim this exemption, a fully completed Form 5278 must be received by the assessing officer at the township where the qualified personal property is located no later than Thursday, February 20, 2020 which means received by our office or postmarked no later than February 20, 2020.  Failure to complete any of the fields on form 5278, will result in the claim being denied.  Claiming this exemption when not entitled to it can result in significant penalties.