Personal property consists of items that are not permanently affixed to the land and can be sold outright or with the property for added value.
Business personal property consists of items used to operate a business, such as desks, other office equipment, tools, and restaurant equipment.
Form Due Dates
Personal property forms are mailed to all businesses by the end of December and must be returned by February 20.
Personal Property Statements
All owners of personal property are required by law to file a personal property statement at the Assessor’s office. Personal property forms can also be obtained through the Assessor’s office located on the second floor of the Waterford Township Hall.
Important Notice for Waterford Business Owners
If the True Cash Value (TCV) of your business equipment is less than $80,000, you may be eligible for an exemption from paying Personal Property taxes. An “Affidavit of Owner of Eligible Personal Property Claiming Exemption from Collection of Taxes” (Michigan Department of Treasury Form 5076) must be filed with Waterford Assessing no later than February 10.
This form was mailed to you along with your Personal Property Statement in December. If you are unsure whether or not you qualify or if you have any other questions regarding the Personal Property tax exemption, please contact the Waterford Assessing Department at 248-674-6270.
Questions & Concerns
For more information on items that could be taxable or any concerns you have with filling out and timely filing your personal property tax forms, please contact the Assessing Department at 248-674-6270.