1. Where do I go to find information about a piece of property?
2. How is it possible that my assessment doesn't appear to reflect the current market conditions as they are?
3. I just bought my property, why isn't my assessment exactly half of the sale price?
4. How can my Taxable Value go up when my assessment stays the same or even goes down?

Personal Property Tax FAQ

1. What is Personal Property?
2. How are the Assessed & Taxable Values Determined?
3. I've heard that the State of Michigan enacted a new law which means I could be paying lower personal property taxes. What is that?
4. What happens if I do not file a personal property statement?
5. What type of information do I include on the personal property statement?
6. What if some of my personal property is used equipment?
7. My Accountant has fully expensed some items of personal property. How do I report that?
8. What happens if my business moves out of Pittsfield Township during the year?
9. Who says I have to file a personal property statement?
10. Where and how often do I have to file a personal property statement?
11. What happens if personal property taxes become delinquent?

1. Where do I go to find out who owns property I am interested in?
   Information can be found by visiting the Assessing home page. Property owner information is also available in the Assessing Office.
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2. How is it possible that my assessment doesn't appear to reflect the current market conditions as they are?
   When you receive your assessment notice at the end of February, the market may have changed just since tax day on December 31st and has probably changed somewhat since October 1st of the previous year. State law requires assessments to approximate 50% of market value, however, when market values are rising, assessments are generally lower than 50% of the market value by the time the assessment notice is mailed because of the change in market conditions that have occurred between the time of the sales study and the time the notices are mailed. Likewise, if sales prices are declining, it will take time for the assessment cycle to incorporate lower sales prices as well.
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3. I just bought my property, why isn't my assessment exactly half of the sale price?
   The law defines True Cash Value as the usual selling price of a property. The Michigan Legislature and the Michigan Supreme Court have clearly stated that the actual sales price of a property is not the only controlling factor in the True Cash Value and the Assessed Value as calculated by the assessing officer. The Assessing Office will analyze several sales in each neighborhood to arrive at a uniform and equitable assessment for all properties. This is similar to the process that is required when you buy property and want the bank to lend you money.
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4. How can my Taxable Value go up when my assessment stays the same or even goes down?
   Proposal A was designed to limit the increase in taxable value by the Consumer Price Index (excluding physical changes) until ownership of the property was transferred. The taxable value is capped each year by the CPI or 5% (whichever is lower). For 2010 the Consumer Price Index or CPI will be a factor of .997. This means that for the first time we will have a decrease in Taxable Value. Over the past 14 years the CPI has not exceeded the 5% maximum level. Generally, the residential market values and assessments have increased at levels higher than the CPI; however, the taxable value has been limited to inflation increases. As long as the assessed value is higher than the current taxable value, changes to the taxable value by the CPI will occur. It is even possible for your assessment to go down, yet the taxable value will increase until the assessment and taxable value are equal. The taxable value can not be higher than the assessed value.
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Personal Property Tax FAQ

1. What is Personal Property? Personal Property is the tangible (physical) assets of a business. Some examples are: office furniture, computers, and industrial machinery & equipment, copy & fax machines. Personal Property should not be confused with Real Property, which is the land and building.
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2. How are the Assessed & Taxable Values Determined? The assessed & taxable values are calculated by the timely filing of a completed personal property statement.
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3. I've heard that the State of Michigan enacted a new law which means I could be paying lower personal property taxes. What is that? The State of Michigan enacted Public Acts 37, 38, 39, & 40 of 2007, which provide for the exemption of certain taxes, based on the classification of the personal property. For industrial classified personal property, those taxes exempted would be the 6 mill State Education Tax & up to 18 mills of local school district operating millage. On commercial classified property, the exemption would be up to 12 mills of local school district operating millage. Properties classified as utility personal did not change and continue to be charged at the non-homestead tax rates.
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4. What happens if I do not file a personal property statement? If the personal property statement is not returned by the February 20th deadline, by law, the Assessor is required to estimate an assessed value.
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5. What type of information do I include on the personal property statement? The total original installed costs for each item of personal property by the year of purchase.
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6. What if some of my personal property is used equipment? If an item was purchased use, you must report the original cost of the item in the year it was purchased AS NEW. Do not report the cost you paid for the item as used. (You may have to contact the seller for the original cost information).
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7. My Accountant has fully expensed some items of personal property. How do I report that? If you have personal property that has been fully expensed or depreciated for Federal Income Tax or financial accounting purposes, the original cost in the year purchased MUST continue to be reported on your personal property statement.
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8. What happens if my business moves out of Pittsfield Township during the year? December 31st is tax day in the State of Michigan. Unlike real property where taxes are prorated at the time of sale, a personal property tax is due for the entire calendar year. For example, if your business moves out of the township on any day during the calendar year following tax day (December 31st), you as a business owner, are still liable for the personal property tax for the remainder of the calendar year.
   
   Personal property taxes would be due to the City or Township your business re-locates to the following year. Your business cannot be taxed a personal property tax by two jurisdictions in the same year.
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9. Who says I have to file a personal property statement? The Michigan Constitution provides for assessment of all real and personal property not exempted by law.
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10. Where and how often do I have to file a personal property statement? Personal Property statements are filed annually with the jurisdiction that the personal property was located in on December 31st. Personal Property statements are mailed during the last week of December and must be completed, signed and returned by February 20th.
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11. What happens if personal property taxes become delinquent? The non-payment of personal property taxes could result in seizure of the personal property. The Treasurer is authorized to seize and sell personal property of a business if personal property taxes remain unpaid.
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