Earlier this afternoon the Michigan Department of Treasury released the following information for communities seeking to correct any valuation errors related to their Eligible Manufacturing Personal Property reimbursement calculations. League members are encouraged to review their calculations and submit error corrections as appropriate. Following Treasury review, validated error corrections will be addressed within the May 2021 PPT reimbursement distribution.
This is a reminder that the Local Community Stabilization Authority Act (LCSA Act) provides municipalities with the opportunity to correct errors in the 2020 Personal Property Tax (PPT) reimbursements that are distributed in October 2020 and February 2021.
In order for a municipality to determine if there was a reporting error or a calculation error, the municipality will need to review the 2020 PPT reimbursement calculations, millage rates, and taxable values posted to the Michigan Department of Treasury’s PPT Reimbursement website (www.michigan.gov/pptreimbursement).
NOTE: It is recommended, but not required, that municipalities review the PPT calculations and the data used in the PPT calculations for accuracy.
If a municipality does not identify an error, the municipality does not need to file a form or take any further action to notify the Michigan Department of Treasury.
If a municipality does identify an error, the municipality will need to complete the appropriate form to notify the Michigan Department of Treasury of the reporting or calculation error(s). The PPT reimbursement correction forms are intended to be utilized by a municipality that has identified an error in its 2020 PPT reimbursement. In addition to the form(s), municipalities must provide substantiating documentation to support an adjustment to the reported value or the calculated reimbursement amount.
Below is a list of the correction forms that are available on the Michigan Department of Treasury’s PPT Reimbursement website (www.michigan.gov/pptreimbursement).
|Form Number||Form Title||Form Completed By||
|5651||Correction of 2020 Personal Property Taxable Values Used for the 2020 Personal Property Tax Reimbursement Calculations||Municipality||County Equalization Director||February 28, 2021|
|County Equalization Director||Department of Treasury||March 31, 2021|
|5654||Correction of School Millage Rates or Other Errors for the 2020 Personal Property Tax Reimbursement Calculations||Municipality||Department of Treasury||March 31, 2021|
|5658||Modification of 2013, 2014, and 2015 Personal Property Taxable Values Used for the 2020 Personal Property Tax Reimbursement Calculations||Municipality||Department of Treasury||March 31, 2021|
Please direct any questions regarding the PPT reimbursement correction process to [email protected] or 517-335-7484.
Chris Hackbarth is the League’s director of state & federal affairs. He can be reached at 517-908-0304 and [email protected].