Business Personal Property Taxes

What’s New

City Assessor’s Office Partners with Tax Management Associates
 

The City of Wyoming is partnering with Tax Management Associates for the 2020 tax year.  Tax Management Associates has a long history of partnering with the State of Michigan and local municipalities in the area of business personal property taxes.  Tax Management Associates will be conducting the annual business personal property canvass and will also be processing all 2020 business personal property forms. 

Please mail all 2020 business personal property forms to City of Wyoming, C/O Tax Management Associates, PO Box 2337, Brighton, MI 48116. 

Some Small Businesses Relieved of Annual Filing Requirements
 

If your business received a Small Business Property Tax Exemption in 2019 and your business continues to be eligible for the Small Business Property Tax Exemption, there is no longer an annual filing requirement.  Please see “Small Business Property Tax Exemption” below 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 20, and 2) file Form 632 by February 20. 

A new business or an existing business which was not exempt in 2019 must file Form 5076 in order to be considered for an exemption for the 2020 tax year.

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.

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 $80,000 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. 

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.