What about used equipment?
If an item was purchased used, you must report the original cost of the item in the year it was purchased AS NEW. Do not report the cost you paid for the item as used. (You may have to contact the seller for original cost information).

If you have personal property that has been fully expensed or depreciated for Federal Income Tax or financial accounting purposes, the original cost in the year purchased MUST be reported on your personal property statement. When you sell or get rid of an item of personal property, the original cost of the item should not be included on your statement when you file the following year.

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1. What is personal property?
2. What are some examples of personal property?
3. Where and how often do I have to file a personal property statement?
4. Who says I have to file a personal property statement?
5. What type of information do I include on the personal property statement?
6. What about used equipment?
7. Do I report equipment that I am leasing?
8. I lease space my business occupies. Do I have to pay a personal property tax?
9. Where does the tax money collected go?
10. What if I want to appeal my assessed value on my personal property?
11. What are my responsibilities as a business owner?
12. What happens if my business moves out of Ypsilanti during the year?
13. What happens if personal property taxes become delinquent?