Honigman Property Tax Appeals Alert - Michigan's Proposal 1 Could Phase Out Some Personal Property Taxes

Next Tuesday Michigan voters will decide whether to approve the phase out of personal property taxation involving small assessments and industrial taxpayers. Specifically, the ballot question asks whether a portion of the state's use tax should be assigned to local governments to reimburse them for tax revenues no longer collected on personal property. If the ballot question fails, the entire phase-out plan will be repealed. The personal property exemption for small assessments actually started in 2014. Businesses with personal property having a true cash value of $80,000 or less in a particular assessing jurisdiction could claim an exemption for that property. If a business owned, leased or was in possession of personal property with a true cash value of more than $80,000 in that jurisdiction, the full tax was owed. Under the plan, taxpayers must file an affidavit with the local assessor each year by February 10 to claim the...
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American Property Tax Counsel

Recent Published Property Tax Articles

Oregon Law Offers Potential For Property Tax Reductions

Properties under construction and projects subject to governmental restriction can take advantage of legislative provisions the state provides.

The Portland metropolitan area is undergoing an unprecedented boom in commercial construction that extends from downtown to the suburbs and into just about every product type.Many taxpayers are preparing to pay larger tax...

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Property Taxes Should Reflect Retail’s Apocalyptic Times

Instead, assessors continue to ignore the clear fact that brick-and-mortar retail is in massive decline.

The retail sector is experiencing its darkest period ever, and taxing entities must come to grips with declining shopping center values.

News reports confirm that national retailers are closing stores at a record pace. In 2017 alone...

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Where Has All The Value Gone In Retail?

Telltale signs can signal opportunities for tax reductions in declining retail properties.

For a number of years the mantra in the retail industry has been that retail property values and shopping center values, in particular, will continue to decline because consumers make purchases online rather than in brick-and-mortar stores. While this...

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