The State of Michigan passed a law for an exemption for personal property under $ 80,000.00 in true cash value. The only way the business gets the exemption is by filing a completed form 5076 with the local assessor. See below for a bulletin from the state regarding the personal property exemption along with a copy of the form 5076.
If form 5076 is incomplete, the exemption WILL BE DENIED
If Form 5076 is not filed timely… the exemption WILL BE DENIED