In the News

Rashid to Present Personal Property Tax Reform Seminar at Michigan Manufacturers Association

Will Discuss Impact of State’s Personal Property Tax Reform on Industrial Companies

February 26, 2013

Carl Rashid, Jr., a Detroit-based member of Dykema’s Real Estate Practice Group and leader of the Firm’s Property Tax Appeals practice, will conduct a seminar – “Personal Property Tax Reform – What You Need to Know” – on Tuesday, March 5, 2013. This 2-hour seminar, presented by the Michigan Manufacturers Association (MMA) will start at 10:00 am (ET) and will take place at the MMA Headquarters in Lansing, Michigan.

The Michigan Legislature’s recent reform of the Personal Property Tax (PPT) affects industrial companies in several profound ways. Among other things, it has:

  • Eliminated the industrial portion for certain Eligible Manufacturing Personal Property; and,
  • Exempted “small” personal property with taxable values of less than $40,000

In his presentation, Rashid will explain the PPT Reform Legislation, outline what Personal Property qualifies as Eligible Manufacturing Personal Property, discuss when the exemptions of Eligible Manufacturing Personal Property begin and provide insights into how this legislation will likely affect existing economic and tax incentives and/or abatements.

The seminar is aimed at owners and lessees of personal property who are responsible for payment of property taxes.