Personal Property is property used for business purposes that is not real estate. General explanation – the Michigan Constitution provides for the assessment of all real and tangible personal property not exempted by law.
Examples of personal property include furniture and fixtures, machinery and equipment, office and electronic equipment, computer equipment, coin-operated equipment, rental equipment, and certain leasehold improvements that are not part of real property. This list is not inclusive.
3. Where do I get a Personal Property Statement?The Assessor sends the statements out each year in the first part of January. They are sent to taxpayers believed to have personal property in their jurisdiction. You are still required to file if you do not receive a statement but have assessable personal property. Forms are available at the Assessor’s office: (www.detroitmi.gov) They can also be accessed from the internet at the following address: www.michigan.gov/treasury.
4. When is the Personal Property Statement due?The statutory due date for filing a personal property statement is February 20th of each year. If you had assessable personal property on December 31st of the preceding year, you are required to complete and submit a personal property statement on or before this due date.