2025 Personal Property Statement Form L-4175-2026

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The document is the 2025 Personal Property Statement (Form 632) issued by the Michigan Department of Treasury, which requires taxpayers to report all assessable tangible personal property owned or possessed as of December 31, 2024. It outlines the necessary information to be provided, including details about the taxpayer's business, locations of personal property, and specific sections for reporting various types of assets. The form must be completed and returned to the local assessor by February 20, 2025, and includes instructions for exemptions and penalties for non-compliance.

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Click ‘Get Form’ to open the 2025 Personal Property Statement Form L-4175 in our platform.
Begin by filling in the 'FROM' section with the name and address of your assessor. Ensure accuracy to avoid processing delays.
In the 'TO' section, enter your legal name and address. If applicable, provide details for sole proprietorships or partnerships.
List all locations of personal property reported on this statement. Use additional sheets if necessary for clarity.
Complete the summary and certification section by answering all questions regarding exemptions and reporting accuracy.
Fill out Sections A through N as instructed, ensuring you report all tangible personal property accurately, including costs and descriptions.
Review your entries for completeness and accuracy before submitting. Utilize our editor's features to make any necessary adjustments easily.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Does Michigan have personal property tax on vehicles?

Motor vehicle registration taxes are not typically associated with property taxes; however, because Michigan taxes personal passenger vehicles based on their value, the Motor Vehicle Registration Fee qualifies as a property tax.

What happens if you dont pay property tax in Michigan?

Real property tax delinquency entails a three-year forfeiture and foreclosure process in Michigan. Parcels are forfeited to the county treasurers when the real property taxes are in the second year of delinquency.

Do you have to pay personal property tax in Michigan?

If youre a business owner in Michigan, and youre not exempt, you will have to pay Personal Property tax for the computers, display racks, equipment, furniture, shelving, etc.. This means you will have to file a Personal Property Statement to let the Assessor know the value of your property.

What is the personal property tax rate in Michigan?

Michigan Tax Rates, Collections, and Burdens Michigan also has a 6.00 percent state sales tax rate. Michigan has a 1.24 percent effective property tax rate on owner-occupied housing value. Michigan does not have an estate tax or inheritance tax.

What is form L 4175 Michigan?

The Michigan Constitution provides for the assessment of all real and tangible personal property not exempted by law. Tangible personal property is defined as tangible property that is not real estate. Form L-4175 is used for the purpose of obtaining a statement of assessable personal property for assessment.

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How often do you pay property taxes in Michigan?

Property Tax Bills are mailed twice each year: July 1 and December 1. Summer Taxes are payable from July 1 through August 31st without interest. Winter Taxes are payable from December 1 through February 14th without penalty.