The City of Novi contracts with Reason Consulting Corporation for our personal property assessments. Personal property taxpayers are encouraged to use Reason Consulting’s online-filing portal, Taxscribe by clicking the button below.
Forms uploaded to the portal will be electronically date and time stamped, and you will receive immediate confirmation when your return is received AND accepted. Taxpayers may file both form 5076, Small Business Property Tax Exemption, and also form 632, Personal Property Statement. Additional forms and supporting documents may also be uploaded. Please contact Reason Consulting Corporation at 800-893-8646 if you have questions about the Taxscribe portal or about your personal property. The portal will close at the end of the day on February 20, 2024. We highly recommend that forms be uploaded to the portal. However, personal property forms may also be mailed to:
Reason Consulting Corporation
P.O. Box 2337
Brighton, MI 48116
Personal Property Statement (Form 632) – under the authority of Public Act 206 of 1893
Personal Property Statements and instructions are mailed to businesses every January. The statement (Form 632) must be completed and returned on or before the due date (February 20), even if the assessor does not send you a form to complete. If you had assessable personal property in your possession on December 31, you must annually submit a completed Form 632 to the city or township where the personal property is located. This statement confidential, but is subject to audit by the State Tax Commission, the County Equalization Department, or the local Assessor, and must be signed at the bottom of page 1. You are advised to make a copy of the completed statement for your records.
If all of the personal property formerly in your possession was removed from the assessing unit before December 31, you must notify the local assessor at once, in writing by submitting a completed Form 632 on or before the statutory due date (February 20), in order to change the records accordingly.
More information can be found here: Personal Property FAQs.
Small Business Property Tax Exemption Claim (Form 5076) – under the authority of MCL 211.9o
The State of Michigan offers an exemption for business owners with eligible personal property that falls below a certain True Cash Value threshold. Beginning in 2023, Public Act 150 of 2021 amended Michigan law to increase the true cash value threshold of personal property. An owner of eligible personal property may file the affidavit (Form 5076) and claim the exemption only if the combined True Cash Value of all industrial and commercial personal property owned by, leased by, or in the possession of the owner, as of December 31 each year, totals less than $180,000 in the local tax collecting unit. The form must be filed no later than February 20 (postmark is acceptable for this form), and late filed forms may be filed directly with the March Board of Review.
If the true cash value of your personal property is more than $80,000, but less than $180,000, in additional to filing Form 5076, you must also file Form 632 (above).
Beginning in 2019, taxpayers are no longer required to annually file Form 5076. Once the exemption is granted, the taxpayer will continue to receive the exemption until they no longer qualify for it (i.e.: the business closes, is sold, relocates, or grows in size as to exceed the true cash value threshold). Once the business no longer qualifies, the taxpayer is required to file a Rescission Form and a Personal Property Statement no later than February 20th of the year that the property is no longer eligible.
More information can be found here: Guide to the Small Business Taxpayer Personal Property Tax Exemption.
Eligible Manufacturing Personal Property (EMPP) Tax Exemption Claim (Form 5278) – under the authority of Public Act 206 of 1893
In 2023, it will be necessary to file Form 5278 for a parcel on which the EMPP exemption is claimed. Beginning in 2024, Public Acts 153 through 156 of 2021 eliminate the requirement to claim the EMPP exemption annually and instead will allow the exemption from the previous year to be carried over to the next year. To rescind the EMPP exemption, Form 5277 must be filed with the assessor of the local unit by December 31 of the year in which the exempted property is no longer eligible.
More information can be found here: Guide to Eligible Manufacturing Personal Property.