NEW for 2023: Change in Mailing Address
After three successful years of partnering with Tax Management Associates, the City Assessor’s Office will be administering all aspects of the 2023 personal property filing season in-house with City staff. The City thanks Tax Management Associates for providing critical services on behalf of the City at a time when City staffing was low due to several retirements.
All 2023 business personal property forms must be mailed to City of Wyoming Assessor’s Office, 1155 28th St SW, PO Box 905, Wyoming, MI 49509.
NEW for 2023: Small Business Exemption Expanded
Beginning with the 2023 tax year, the Small Business Personal Property Tax Exemption has been expanded to include eligible businesses with a true cash value equal to or greater than $80,000 and less than $180,000. Please see Form 5076 for eligibility requirements and filing requirements.
NEW for 2023: Qualified Heavy Equipment Rental Personal Property Exemption
Beginning with the 2023 tax year, heavy equipment rental personal property may be eligible for exemption. Qualifying rental companies meeting all requirements will be subject to a specific tax rather than the ad valorem tax levied by the local unit of government. Please see Form 5819 for eligibility requirements and filing requirements. Further information can be found in Michigan State Tax Commission Bulletin 18 of 2022.
Annual Personal Property Tax Filing Requirements
Businesses which are not exempt from personal property taxes are required to file a personal property statement (Form 632) by February 20 of each year. For 2023, the deadline is February 21 due to February 20 being a State holiday.
Small Business Property Tax Exemption
If the combined true cash value of all personal property owned by, leased by, or in the possession of your business or a related entity is less than $180,000 in the City of Wyoming, your business may be eligible for the Small Business Property Tax Exemption. Some exclusions may apply. Please see the instructions for Michigan Department of Treasury Form 5076 for complete details.
If your business received a Small Business Property Tax Exemption in 2022 and your business continues to be eligible for the Small Business Property Tax Exemption, there is no longer an annual filing requirement. Please see Form 5076 to determine if your business is still eligible. If your business is no longer eligible to receive the exemption, the owner is required to 1) rescind the exemption by filing Form 5618 by February 21, and 2) file Form 632 by February 21.
Eligible Manufacturing Personal Property Tax Exemption
To determine if your business is eligible for the Eligible Manufacturing Personal Property Tax Exemption, please read the instructions attached to Form 5278.
Deadlines
All personal property forms are required to be filed no later than February 20 of each year. For 2023, the deadline is February 21 due to February 20 being a State holiday.