PERSONAL PROPERTY TAXES AND REPORTING REQUIREMENTS
The personal property of all entities in the State of Michigan is taxable unless
specifically exempted by the Michigan General Property Tax Laws. In general, the
usual household furnishings of residents are exempt, as is the personal property
of churches, government, farms, and some other narrowly defined organizations.
Taxable personal property is generally the furniture, fixtures, equipment,
machinery, leasehold improvements, office machines, computers and tools of a
business. All taxable property must be reported annually to the local assessor
on or before February 20. The Michigan State Tax Commission has an approved form
which must be used in reporting personal property. This form includes specific
instructions. Note that taxpayers are to report all property at their location
on tax day, including leased or loaned equipment. There are several schedules on
the form to allow for this reporting.
Tax day is December 31 each year. The personal property statement requires that
all property be reported based on its location on December 31---regardless of
where it may have been moved to after tax day. This also means that taxes will
be due based on where the property was located on December 31 even if disposed
of during the tax year.
All businesses with property in the City of Kentwood must comply with state
laws. The Assessor's Office attempts to mail forms to all entities believed to
have taxable property within the City on tax day. These forms are mailed about
January 2. All forms must be returned no later than February 20, although it is
requested that they be completed and filed by the end of January. The earlier
deadline allows for both the assessing staff and the taxpayer to be able to
review any questions and agree on an appropriate assessment before the Board of
Review meets. Once the Board of Review finalizes the assessment roll the first
week in March, changes to the assessment are only allowed for incorrect
reporting or omitted property. If there is a valuation dispute, that must be
brought to the Board of Review by the taxpayer and then could be appealed to the
Michigan Tax Tribunal. (See the Assessment Appeals page of this site.) Failure
to timely file the personal property statement mailed to a person or business
may result in an estimated assessment which will result in tax liability for
that year. Taxes are computed by multiplying the taxable value (estimated at
fifty percent of usual selling price) by the applicable millage rate (expressed
as tax dollars per $1,000 of taxable value).
If you need to receive a form, please contact our office either by calling (616)
554-0723, or by e-mailing our office or by downloading the form and/or its
attachments from the Michigan forms website by clicking on the link below. (You
will be requesting form number 632 or 632web for on-line fill and print.) If you
contact our office, please give us the full name and location of your property
as well as a mailing address.
If you have questions on personal property the State Tax Commission has
prepared a questions and answers document which may be viewed at the following
link.
