2025 Annual Personal Property Tax Filing Requirements
Businesses which are not exempt from personal property taxes are required to file a Michigan Department of Treasury Form 632 each year. For 2025, the deadline is February 20, 2025.
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 Personal Property Tax Exemption. Some exclusions may apply. Please see the instructions for Michigan Department of Treasury Form 5076 for complete details.
Once the exemption is granted for a business with personal property valued at less than $80,000, the business will continue to receive the exemption until they no longer qualify. Owners that received the exemption in 2024 for personal property valued between $80,000 and less than $180,000 continue to have an annual filing requirement. Please see the instructions for Michigan Department of Treasury Form 5076 for complete details.
Businesses that are no longer eligible to receive the Small Business Personal Property Tax Exemption must file Michigan Department of Treasury Form 632 and Michigan Department of Treasury Form 5618 no later than February 20, 2025. Please see the instructions attached to these forms 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 Michigan Department of Treasury Form 5278. There are no filing requirements with the City of Wyoming for the 2025 tax year for parcel numbers that received the eligible manufacturing personal property tax exemption in 2024. However, if the personal property is no longer eligible manufacturing personal property, your business must file Michigan Department of Treasury Form 5277 and Michigan Department of Treasury Form 632 no later than February 20, 2025.
Qualified Heavy Equipment Rental Personal Property Exemption
Beginning with the 2023 tax year, heavy equipment rental personal property may have been 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 Michigan Department of Treasury Form 5819 for eligibility requirements and filing requirements. Further information can be found in Michigan State Tax Commission Bulletin 18 of 2022.
Deadlines & Mailing Address
All personal property forms are required to be filed no later than February 20, 2025. Forms postmarked February 20, 2025 are considered timely. All 2025 business personal property forms must be mailed to:
City of Wyoming Assessor’s Office
1155 28th St SW
PO Box 905
Wyoming, MI 49509