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Reset Form
This form must be completed
Michigan Department of Treasury Parcel No. and returned to the assessor by
632 (Rev. 12-22) February 21, 2023.
Issued under authority of Public Act 206 of 1893.
Approved by the State Tax Commission August 23, 2022.
L-4175 2023
2023 Personal Property Statement (As of 12-31-22) Location(s) of Personal Property Reported on This Statement.
FROM: (Name and Address of Assessor) LIST ALL LOCATIONS. Attach additional sheets if necessary.

Date of Organization Date Business Began at Square Feet
above location Occupied

Assumed Names Used by Legal Entity, if any

TO: (Name and Address of Taxpayer) Names of Owner(s) or Partners
(If sole proprietorship or partnership)

If Sole Proprietorship, Taxpayer's Residential Address

Legal Name of Taxpayer

Preparer's Name, Address, Telephone Number and E-mail address Check One Only: Address Where Personal Property Records are Kept
Sole Proprietorship
Partnership Name of Person in Charge of Taxpayer Telephone No.
Records
Limited Liability Co.
Corporation Description of Taxpayer's Business Activity and NAICS Code
MI ID# ______________
NOTICE: DO NOT USE THIS FORM TO CLAIM AN EXEMPTION OF ELIGIBLE MANUFACTURING PERSONAL PROPERTY (EMPP) PURSUANT TO
MCL 211.9m AND MCL 211.9n. To claim an exemption for EMPP, file Form 5278 with the local assessor where the personal property is located
no later than February 21, 2023. Leasing companies are not eligible to file Form 5278 and must complete this form. Pursuant to MCL 211.9o, if
the true cash value of the assessable personal property you or a related party own, lease or possess in this local assessing unit is less than
$80,000, then you do not need to file this form if the property is classified as commercial or industrial personal property and you timely claim
the exemption. Instead, file Form 5076 with the local unit where the property is located no later than February 21, 2023. See the instructions on
Page 6.
SUMMARY AND CERTIFICATION. Complete ALL questions. If Yes, state total original cost
1. Have you excluded any exempt "Special Tools" from this statement? Yes No excluded _________________

2. Have you excluded any air and water pollution control facilities and/or wind or water
energy conversion devices for which an exemption certificate has been issued? Yes No If Yes, attach itemized list.

3. Have you, to the best of your knowledge, reported all of your assessable tangible
personal property located in Michigan including fully depreciated and/or expensed
assets, to the appropriate assessment jurisdiction? Yes No If No, attach explanation.

4. Did you hold a legal or equitable interest in personal property assessable in this
jurisdiction which you have not reported on this statement (see instructions)? Yes No If Yes, attach itemized list.

5. Are you a party (as either a landlord or a tenant) to a rental or lease agreement relating
to real property in this jurisdiction? Yes No If Yes, complete Section O.

6. Have any of your assets been subjected to "rebooking" of costs for accounting
purposes or been purchased used (see instructions)? Yes No If Yes, attach itemized list.

7. Is any of your property "daily rental property," per P.A. 537 of 1998? Yes No If Yes, attach Form 3595.

8. Are other businesses operated at your location(s)? Yes No If Yes, attach itemized list.
Enter zero if appropriate. Assessor Calculations
9. Grand total from page 2 9a. 9b.
10. Grand total from page 3 10a. 10b.
11. Grand total from pages 4-5 11a. 11b.
12. Total cost of Idle Equipment from Form 2698 12a. 12b.
13. Total cost of Personal Property Construction in Progress 13a. X .50 13b.
14. Total Cost of Cable TV, Utility, Wind and Solar Energy Assets
from Forms 633, 3589, 4565, and 5762 14a. 14b.
15. Total cost of cellular site equipment from Form(s) 4452 15a. 15b.
TOTAL
The undersigned certifies that he/she is an owner, officer and/or the duly authorized ASSESSOR'S ADJUSTMENT(S)
agent for the above named taxpayer and that the above summary, with its supporting
documents, provides a full and true statement of all tangible personal property owned EXEMPTION(S)
or held by the taxpayer at the locations listed above on December 31, 2022.
TRUE CASH VALUE
Signature of Certifier Date
ASSESSED VALUE (50% of TCV)

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632, Page 2 
INSTRUCTIONS.  Read carefully to obtain directions for the allocation of your personal property to Sections A - N. 
All Tangible Personal Property in your possession at this location, including fully depreciated and expensed assets, must be reported in one of the 
Sections A through N. If you had "Move-Ins" of used property, you must also complete Form 3966,       2023 Taxpayer Report of Personal Property 
"Move-Ins" of Used Equipment   Occurring During 2022. "Move-Ins" are items of assessable personal property (hereafter referred to as "property") that 
were not assessed in this city or township in 2022, including (1) purchases of used property, (2) used property you moved in from a location outside this 
city or township, (3) property  that was exempt in 2022 (such as exempt Industrial Facilities Tax property), and (4) property that you mistakenly omitted 
from your statement in 2022. "Move-Ins" DO NOT include property that has been moved from   another location WITHIN this city or township or that was 
assessed to another taxpayer within this city or township in 2022 (i.e., property reported by a previous owner or previously leased property reported by 
the lessor in 2022). All "Move-Ins" must be reported on Page 2 of  this form and on Form 3966. Do not report 2022 acquisitions of new property on Form 
3966. 
Did you have "move-ins"?                     Yes        No 
SECTION A:                                           Assessor 
Including Furniture and Fixtures                 Calculations                    SECTION D:  Including Office, Electronic,        Assessor 
                                                                                 Video and Testing Equipment                      Calculations 
2022                                     .91 
                                                                                    2022                                  .84 
2021                                     .80 
                                                                                    2021                                  .64 
2020                                     .69 
                                                                                    2020                                  .55 
2019                                     .61 
                                                                                    2019                                  .49 
2018                                     .53 
                                                                                    2018                                  .44 
2017                                     .47 
                                                                                    2017                                  .41 
2016                                     .42 
                                                                                    2016                                  .38 
2015                                     .37 
                                                                                    2015                                  .35 
2014                                     .33 
                                                                                    2014                                  .33 
2013                                     .29 
                                                                                    2013                                  .31 
2012                                     .27 
                                                                                    2012                                  .29 
2011                                     .24 
                                                                                    2011                                  .28 
2010                                     .22 
                                                                                    2010                                  .26 
2009                                     .19 
                                                                                    2009                                  .25 
2008                                     .12 
                                                                                    2008                                  .17 
Prior                                    .12 
                                                                                    Prior                                 .17 
TOTALS     A1                                A2 
                                                                                 TOTALS D1                                    D2 
SECTION B:                                           Assessor 
Including Machinery and Equipment                Calculations                    SECTION E:  Including Consumer                   Assessor 
                                                                                 Coin Operated Equipment                          Calculations 
2022                                     .89 
2021                                     .76                                        2022                                  .92 
2020                                     .67                                        2021                                  .85 
2019                                     .60                                        2020                                  .77 
2018                                     .54                                        2019                                  .69 
2017                                     .49                                        2018                                  .61 
2016                                     .45                                        2017                                  .54 
2015                                     .42                                        2016                                  .46 
2014                                     .38                                        2015                                  .38 
2013                                     .36                                        2014                                  .30 
2012                                     .33                                        2013                                  .23 
2011                                     .31                                        2012                                  .15 
2010                                     .29                                        Prior                                 .15 
2009                                     .28                                     TOTALS E1                                    E2 
2008                                     .23 
Prior                                    .23                                     SECTION F:                                       Assessor 
                                                                                 Including Computer Equipment                     Calculations 
TOTALS B1                                    B2                                     2022                                  .60 
SECTION C:                                           Assessor                       2021                                  .44 
Including Rental Videotapes and Games            Calculations                       2020                                  .32 
2022                                     .76                                        2019                                  .24 
2021                                     .53                                        2018                                  .19 
2020                                     .29                                        2017                                  .15 
2019                                     .05                                        2016                                  .08 
Prior                                    .05                                        Prior                                 .08 
TOTALS C1                                    C2                                  TOTALS   F1                                  F2 
COST GRAND TOTAL (for page 2)                                                    TRUE CASH VALUE GRAND TOTAL (for page 2) 
TAXPAYER: Add totals from cost columns                                           ASSESSOR: Add True Cash Value totals 
of Sections A-F (A1-F1).  Enter grand total                                      from Sections A-F (A2-F2).  Enter grand 
here and carry to line 9a, page 1.           $                                   total here and carry to line 9b, page 1.     $

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632, Page 3 Parcel No.
L-4175
SECTION G - Other Assessable Personal Property Which You Own
Assessable Tangible Personal Property in your possession that is not entitled to depreciation under Generally Accepted Accounting
Principals (GAAP) (e.g. fine art) or that the assessor has told you to report in this Section or that is otherwise described in the
instructions should be reported under this section. Any Personal Property reported in this Section should NOT be reported elsewhere on
Form 632 (L-4175). See instructions. Attach additional sheets, if necessary.
Acquisition Acquisition True Cash Value
Description of Property Cost New Year Assessor's Calculations

Total Acquisition Cost New G1 G2

SECTION H - Standard Tooling
You must report your standard tooling in this Section. Complete both Acquisition Acquisition GAAP
Year Cost New Net Book Value
columns. Notice that GAAP net book value, as reported in this Section,
2022
must implement accounting "changes in estimate", even if not otherwise
material. Any Personal Property reported in this Section should NOT be 2021
reported elsewhere on Form 632 (L-4175). See Instructions. 2020
Prior

Total Acquisition Cost H1 H2
SECTION I - Qualified Personal Property
INCLUDE ONLY "Qualified Personal Property" as defined by Michigan Compiled Laws 211.8a(6)(c). See instructions. If necessary,
attach extra schedules using the same format indicated below. Any Personal Property reported in this Section should NOT be reported
elsewhere on Form 632 (L-4175).
Description of Equipment Owner Name and Original Cost Date of Lease Term Year of Total Average % TCV to be Completed
and Model or Serial Number Complete Mailing Address Installed Installation In Months Manufacture Monthly Rental by Assessor

Total Installed Cost I1 I2

SECTION J - Leased Property in Your Possession Which Is Not Qualified Personal Property
Property you are leasing from another person or entity should be reported under this Section. "Qualified" Personal Property should be
reported under Section l. See instructions. Attach additional sheets if necessary. Any Personal Property reported in this Section should
NOT be reported elsewhere on Form 632 (L-4175).
Lease Term Monthly 1st Year Selling Price New
Lease No. Name & Address of Lessor Description of Equipment (in months) Rental in Service (estimate, if necessary)

Total Selling Price New J1

SECTION K - Other Personal Property in Your Possession Which You Do Not Own
Property not owned by you but in your possession on December 31, 2022, under arrangements other than a lease agreement should
be reported under this Section. See instructions. Any Personal Property reported in this Section should NOT be reported elsewhere on
Form 632 (L-4175). Attach additional sheets if necessary.
Age (estimate if Selling Price New
Name & Address of Owner Description of Equipment necessary) (estimate, if necessary)

Total Selling Price New K1

COST GRAND TOTAL (for page 3) TRUE CASH VALUE GRAND TOTAL (for page 3)
TAXPAYER: Add Total Costs and
Selling Prices from Sections G-K ASSESSOR: Add True Cash Value totals
from Sections G-I (G2-I2). Enter grand
(G1-K1). Enter grand total here and carry $ total here and carry to line 10b, page 1. $
to line 10a, page 1.

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632, Page 4
SECTION L - Detail of Leases (This Section is Completed by Leasing Companies)
Equipment that you lease to others should be reported under this Section. Note: You must also complete Sections A - F on Page 2. See instructions.
You may use attachments in lieu of completing this Section only if the attachments use the same format and contain all the information as indicated
below, and the Tables on Page 2 are completed. If you are leasing Eligible Manufacturing Personal Property (EMPP) to another company, you
must report it in this section unless an election has been made, using Form 5467, that it be reported on the lessee's Form 5278. See the
detailed notice at the beginning of the Instructions, at the top of the first column, Page 6. Attach additional sheets, if necessary.
Are you a manufacturer of equipment? Yes No
Location of Type of Lease Monthly 1st Year Manufacturer Original
Lease No. Name & Address of Lessee Equipment Equipment Period (Mo.) Rental in Service Cost Selling Price

Total Original Selling Price
SECTION M - Leasehold Improvements
All Leasehold Improvements (LHI) made at your place of business should be reported under this Section, even if you believe that the improvements are
not subject to assessment as Personal Property. Report trade fixtures, foundation costs and equipment installation costs, including wiring and utility
connections in the appropriate Section A through F, on Page 2, not as LHI. See instructions. To prevent a duplicate assessment, provide as much detail
as possible. You may attach additional explanations and/or copies of "fixed asset" records, if the attachment provides ALL of the information requested
below and if you insert the total original cost in "Total Cost Incurred" below. Personal Property reported here should NOT be reported elsewhere on Form
632 (L-4175). Assessor: Do NOT assess 2016 or later installations as personal property except where the lease is pre-1984.
NOTICE: The State Tax Commission has directed that all leasehold improvement installations in 2016 or later must be valued as improvements to
the leased real property. Report all 2016 -2022 leasehold improvements in the section immediately below.
STC True Cash Value
Year Installed Description (Describe in detail) Original Cost Multiplier Assessor's Calculation
2022
2021
2020
2019
2018
2017
2016
Prior

SECTION N - Buildings and Other Structures on Leased or Public Land and All Freestanding Signs and Billboards
Costs of Freestanding Communications Towers and Equipment Buildings at Tower sites (unless reported on Form 4452), and Costs of Freestanding
Signs and Billboards must also be reported under this Section. Any Personal Property reported in this Section should NOT be reported elsewhere on
Form 632 (L-4175). Attach additional sheets, if necessary.
Check this box if you believe that these structures are already assessed as part of the real property.
Year Originally Total Capitalized True Cash Value
Address or Location of Building Built Cost Assessor's Calculation *

Total Capitalized Cost N1 N2

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632, Page 5
SECTION O - Rental Information. See Instructions. (Attach additional sheets, if necessary.)
IF YOU ARE THE TENANT
Name and address of landlord __________________________________________________________________________________
Is your landlord the owner of the property? Yes No If you are a sublessee, enter the name and address of the owner
of the property _______________________________________________________________________________________________
IF YOU ARE THE LANDLORD
Name and address of tenant ___________________________________________________________________________________
Are you the owner of the property? Yes No If you are a sublessor, enter the name and address of the owner of
the property ________________________________________________________________________________________________
TO BE COMPLETED REGARDLESS OF WHETHER YOU ARE THE LANDLORD OR TENANT
Address of property rented or leased ____________________________________________________________________________
Date that current rental arrangement began:_________. Square feet occupied:_________ Monthly rental $____________________
Date current lease expires:________________. Are there options to renew the lease? Yes No
Expenses (e.g. taxes, electric, gas, etc.) paid by the tenant ___________________________________________________________
Assessor Value

O2
COST GRAND TOTAL (for page 4) TRUE CASH VALUE GRAND TOTAL (for page 4)
TAXPAYER: Add Total Cost Incurred from
Section M and Total Capitalized Cost from ASSESSOR: Add True Cash Value totals
Section N (M1 and N1). Enter grand total from Sections M-O (M2-O2). Enter grand
here and carry to line 11a, page 1. $ total here and carry to line 11b, page 1. $
* NOTE TO ASSESSOR: Certain buildings and structures on leased land (but not including freestanding signs and billboards) must be assessed on the
real property roll. See Bulletin 1 of 2003.

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632, Page 6

Instructions for Completing Form 632 (L-4175), 2023 Personal Property Statement
NOTICE: Do NOT report Eligible Manufacturing Personal a fine not less than $100, nor more than $1,000; or both fine and
Property (EMPP), as defined in MCL 211.9m and MCL 211.9n, imprisonment at the discretion of the court. See MCL 211.21.
using this form. Instead, use the Eligible Manufacturing Personal CAUTION: Read these instructions carefully before completing
Property Tax Exemption Claim and Report of Fair Market Value the form. Complete all Sections. Because this form has been
of Qualified New and Previously Existing Personal Property coded, it is imperative that it be returned to assure proper
(Combined Document), Form 5278. For a full definition of processing. If all of the personal property formerly in your
EMPP, see the instructions on Form 5278. Generally, personal possession has been removed from this assessing unit before
property is EMPP if the predominant use of all personal property December 31, 2022, you must notify the assessor at once in
on an occupied real parcel is predominantly used for industrial order to change the records accordingly. This statement is
processing or direct integrated support. Form 5278 must be subject to audit by the State Tax Commission, the Equalization
fully completed and delivered to the assessor of the local unit Department or the Assessor. Failure to file this form by its
in which the personal property is located no later than February due date will jeopardize your right to file an MCL 211.154
21, 2023. Delivery by the United States Postal Service is timely appeal with the State Tax Commission. You are advised to
if postmarked on or before February 21, 2023. Late application make a copy of the completed statement for your records. This
may be filed directly with the March Board of Review before its form must be filed in the city or township where the personal
final adjournment by submitting a fully completed Form 5278. property is located on December 31, 2022. Do not file this form
Form 5278 can be accessed at www.michigan.gov/esa. A lessor with the State Tax Commission unless you have been specifically
of personal property is not eligible to file Form 5278 under any instructed to do so by the Commission’s staff.
circumstance and must report EMPP on this form. However, the Although you must complete all Sections of this form, you are
lessor and lessee may elect to have the lessee report the leased not required to file pages that do not contain any reported cost.
property by executing the Election of Lessee Report of Eligible You must, however, insert a zero entry in the appropriate line(s)
Manufacturing Personal Property, Form 5467, and the lessee 10, 11 and/or 12 of the “Summary and Certification” on page 1 to
including the Form 5467 when filing Form 5278. indicate that you have no costs to report for that page; you must
NOTICE: If the true cash value of assessable personal property complete and file Section O if you are a landlord, a lessee or a
that you or a related party own, lease, or possess in this sublessee. In completing this form, you may not use attachments
(“city” or “township”) is under $80,000, you may be eligible in lieu of completing a Section, unless the instructions specifically
for an exemption for 2023 by filing Form 5076 by February authorize the use of attachments for completing the Section.
21, 2023, or by an application thereafter directly to the March This form must be signed at the
FACSIMILE SIGNATURES:
Board of Review. IF YOU ARE ELIGIBLE FOR THE SMALL bottom of page 1. A facsimile signature may be used (P.A. 267
BUSINESS TAXPAYER EXEMPTION (MCL 211.9o), timely file of 2002), provided that the person using the facsimile signature
for the exemption using Form 5076, and if the true cash value has filed with the Property Services Division of the Department
of the assessable personal property you or a related party own, of Treasury a signed declaration, under oath, using Form 3980.
lease or possess in this local assessing unit is less than $80,000, A facsimile signature is a copy or a reproduction of an original
you do not have to complete this personal property statement. signature.
For personal property valued at $80,000 or more but less than
$180,000, Small Business Taxpayer exemption claimants must GENERAL EXPLANATION: The Michigan Constitution provides
for the assessment of all real and tangible personal property
file Form 5076 and Form 632 Personal Property Statement with
not exempted by law. Tangible personal property is defined as
the local unit (City or Township) where the personal property
tangible property that is not real estate. Form 632 (L-4175) is used
is located no later than by February 21, 2023 (postmark is
for the purpose of obtaining a statement of assessable personal
acceptable). Late filed forms may be filed directly with the local
property for use in making a personal property assessment.
unit March Board of Review prior to the closure of the March
Michigan law provides that the assessor must send Form 632
Board of Review. Form 5076 and instructions can be accessed
(L -4175) to any person or entity that may possess assessable
at www.michigan.gov/taxes or from the assessor.
personal property. Michigan law also provides that a person or
NOTICE: Public Act 46 of 2022, MCL 211.9p, provides an entity receiving Form 632 (L-4175) must complete it and return
exemption for certain qualified heavy equipment rental personal it to the assessor by the statutory due date, even if they have no
property. The exemption is not mandatory and may be claimed assessable property to report. If you had assessable personal
at the option of the qualified renter by annually filing Form 5819 property in your possession on December 31, 2022, you must
and a statement of all qualified rental personal property located submit a completed Form 632 (L-4175) to the assessor of the
at and/or rented from the qualified renter business location. The community where the property is located by the statutory due
statement must provide the addresses of the qualified renter date, even if the assessor does not send you a form to complete.
and must identify each item of qualified heavy equipment rental
personal property located at and/or rented from the qualified
renter business location. Form 5819 and accompanying separate COMPLETION OF FORM 632 (L-4175)
statement are to be filed with the assessor of the local unit where PAGE 1 — STATISTICAL INFORMATION:
the qualified renter business is located by February 20 (postmark FROM: Insert name and address of the assessor if you are using a
is acceptable) each year. If the form and statement are not form not provided by the assessor. Often this form must be filed at
delivered to the assessor by February 20, a late application can an address different than the assessor’s mailing address for other
be filed directly with the March Board of Review. purposes. It is your responsibility to assure that this form is sent to
This form is issued under authority of the General Property Tax the correct address. If you are unsure of the mailing address, call
Act. Filing is mandatory. Failure to file may result in imprisonment your local assessor or county equalization department.
for a period not less than thirty days, nor more than six months; TO: If you are not using a preprinted form, insert your name and

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632, Page 7
address. Use the address at which you wish to receive future pursuant to MCL 211.9b. If you are excluding “special tools” from
forms and tax billings. If your form is preprinted with an incorrect your statement, you must check “Yes” and insert the amount
address, line out the incorrect portions and insert the corrections. of original cost excluded. “Special tool” means a finished or
Parcel No.: Unless this is an initial filing, you have already been unfinished device such as a die, jig, fixture, mold, pattern, special
assigned a parcel number. If you are using a form not provided gauge, or similar device, that is used, or is being prepared
by the assessor, you must insert the correct parcel number. for use, to manufacture a product and that cannot be used
Failure to insert your parcel number may result in a duplicate to manufacture another product without substantial modification
assessment. of the device. As used herein, a “product” can be a part, a special
Preparer’s Name and Address: Insert the name, address, tool, a component, a subassembly or completed goods. “Special
telephone number and e-mail address of the person who has tools” do not include devices that differ in character from dies,
prepared this statement. jigs, fixtures, molds, patterns, or special gauges. Machinery or
equipment, even if customized, and even if used in conjunction
(Check One): Check the appropriate box indicating the form
with special tools is not a “special tool.” A die, jig, fixture, mold,
of legal organization used by the taxpayer in conducting
pattern, gauge, or similar tool that is not a “special tool” is a
its business. If the taxpayer is organized as a corporation
“standard tool” and must be reported in Section H. Machinery or
or a limited liability company, insert the Michigan corporate
equipment, even if specialized, and even if used in conjunction
identification number of the business or, if not authorized to
with special tools or standard tools is not reported in Section
do business in Michigan, the name of the state in which it is
H and must, instead, be reported in Section B. Only industrial
organized.
tools in the nature of dies, jigs, fixtures, molds, patterns and
Location(s) of Personal Property: List the street addresses of special gauges can qualify for this exemption. Personal property
all locations that are being reported on this statement. Locations not directly used to carry out a manufacturing process is not a
in different school districts or lying within the boundaries of “special tool.” Dies, jigs, fixtures, molds, patterns, special gauges,
designated authorities or districts must be reported separately. or similar devices that are not “special tools” should be reported
All personal property at a given location in the same authority or at full acquisition cost new under Section H of this form.
district must be reported under one account, unless the assessor
has directed otherwise. You must file a separate statement for Page 1, Line 2: Air and water pollution control facilities and/
or wind or water energy conversion devices may qualify for
property on which the tax is abated pursuant to P.A. 198 of 1974
exemption from taxation, only if an exemption certificate has been
(I.F.T.) or P.A. 328 of 1998 (certain new personal property).
issued by the State Tax Commission on or before December 31,
Date of Organization: Insert the date that the taxpayer’s 2022. If you claim such an exemption, check “Yes” and attach
business was first organized or commenced. an itemized listing of the certificate numbers, dates of issuance
Date Business Began at Above Location: Insert the date that and amounts.
the taxpayer first commenced business at a location reported on You must file a completed Form 632 (L-4175)
Page 1, Line 3:
this statement. with the assessor of every Michigan assessment jurisdiction in
Square Feet Occupied: Insert the number of square feet of which you had assessable personal property on December 31,
space occupied by the taxpayer at the location(s) reported. 2022. If you have fulfilled this obligation, check “Yes.” If you have
Assumed Names: State any assumed names used by the not filed in every required jurisdiction, attach an explanation.
taxpayer in conducting its business at the location(s) reported. You are required to report all tangible personal property in your
Names of Owner(s) or Partners: If the taxpayer is a sole possession in this location even if the property has been fully
proprietorship or a partnership, list the name(s) of the proprietor expensed or depreciated for federal income tax or financial
or partners. accounting purposes. If you answer “No,” attach a detailed
If Sole Proprietorship, Taxpayer’s Residential Address: Insert explanation.
sole proprietor’s actual residence address. Do not use mailing Page 1, Line 4: The purpose of this question is to determine
address, if different than residence address. whether you are a party to a contract relative to personal
Legal Name of Taxpayer: Insert the taxpayer’s exact legal property located in this jurisdiction on December 31, 2022, that
name. you have not reported on this statement, perhaps because of
Address Where Personal Property Records Are Kept: Insert your belief that another party to the contract is the proper party
to report. This includes situations where you believe you hold
the address where the records used to complete this statement
are kept. Only insert the address of an agent if that agent has only a security interest in personal property, in spite of the fact
that the contract is labeled a “lease.” If you answered “yes” to
actual possession of all documents necessary to conduct an
this question, attach a rider that includes the name(s) of the
audit.
interest holder(s), the nature of your interest, a description of
Name of Person in Charge of Records: Insert the name of the the equipment, the year the equipment was originally placed in
person at the address where the records are kept who has actual service, its original selling price when new and the address where
control of the documents necessary to conduct an audit. the property was located on December 31, 2022. “Conditional
Telephone Number: Insert the telephone number of the person sale” leased equipment must be reported by the lessor.
having charge of the records used for filing. Page 1, Line 5: Check “Yes” if you are a lessor (landlord), a
Description of Taxpayer’s Business activity: Insert a lessee (tenant) or a sublessee (subtenant) in a rental contract
descriptive phrase indicating the nature of the taxpayer’s relating to the real property at this location. MCL 211.8(i)
business activity and NAICS Code. provides that, under some circumstances, the value, if any, of
a sub-leasehold estate shall be assessed to the lessee. If you
PAGE 1 — SUMMARY AND CERTIFICATION: check “Yes,” complete Section O. Your rental arrangement
Page 1, Line 1: “Special Tools” are exempt from taxation, will be analyzed by the assessor. If you check “Yes” and have
made leasehold improvements to the real estate, you must also

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632, Page 8
complete Section M. Your completion of Sections M and O will            rebuilding firm on December 31, 2022, OR is being disposed of 
not necessarily result in an increased assessment.                      by means of an advertised sale because it has been declared 
Page 1, Line 6: The valuation multipliers contained in Sections A       as surplus by an owner who has abandoned a process or plant. 
through F on page 2 are intended to be applied to the acquisition       Property  that  is  part  of  a  process  that  has  been  temporarily 
cost  of  new,  not  used,  personal  property.  If  the  acquisition   suspended  from  operation  or  which  is  being  offered  for  sale 
cost  new  of  an  asset  is  known  to  you  or  can  be  reasonably   with the expectation that the process will be continued at the 
ascertained through investigation, you must report that cost in         same location, does not qualify for idle or obsolete and surplus 
the year it was new when you complete Sections A through F,             reporting treatment. Only property which would otherwise be 
even if you have adjusted the cost in your accounting records to        reported in Sections A through F on Page 2 of Form 632 (L-
reflect revaluation of the asset using a “purchase,” “fresh start,”     4175) qualifies to be reported as idle or obsolete and surplus 
“push-down” or similar accounting methodology, or even if your          equipment. For more information, see instructions to Form 2698. 
booked cost reflects a “used” purchase, lease “buy-out” price or        Do not include these assets elsewhere on this form.
a “trade-in” credit. If you were unable to report the acquisition       Page 1, Line 13: Report the total cost incurred for Construction 
cost new for one or more of your assets, you should check “Yes”         in Progress, as calculated on an accrual basis, based on the 
and attach a list of all such assets. On the list, provide a detailed   extent  of  physical  presence  of  the  Construction  in  Progress 
description of each asset, the year or approximate year that the        in  the  assessment  jurisdiction.  Construction  in  Progress 
asset was new, and the Section, the amount and acquisition year         is  property  of  a  personal  property  nature  that  has  never 
at which you have reported the asset. You must also provide a           been  in  service  and  was  in  the  process  of  being  installed 
written explanation of the reason(s) that the original acquisition      on  December  31,  2022.  Do  not  report  partially  constructed 
cost information is not available.                                      electric  generating  facilities  as  Construction  in  Progress.  
Page 1, Line 7: “Daily rental property” is tangible personal            Such facilities must be reported on the Real Property Statement 
property, having a cost new of $10,000 or less, that is exclusively     (Form 3991 - Gas Turbine and Diesel; Form 4070 - Hydroelectric; 
offered  for  rental,  pursuant  to  a  written  agreement,  on  an     Form 4094 - Steam). 
hourly, daily, weekly or monthly basis for a term of 6 months           Page 1, Line 14: If you had cable television or utility assets 
or less (including all permitted or required extensions). If you        on December 31, 2022, complete and file Form 3589,          Cable 
acquired the property “used” you must determine the cost new            Television and Utility Personal Property Report, or Form 633, 
for purposes of determining whether the property qualifies for          Electric Distribution Cooperative Personal Property Statement, 
“daily rental property” treatment. If you believe that you have         and carry the Total Original Cost from Form 3589 or Form 633 
such property, see Form 3595, Itemized Listing of Daily Rental          to line 15a. See the instructions to Form 3589. If  you had wind 
Property,  for  additional  information.  If  you  qualify,  you  must  energy system assets as defined in MCL 211.8(i), on December 
complete Form 3595 and comply with the requirements set forth           31, 2022, complete Form 4565, Wind Energy System Personal 
therein.                                                                Property Report, and carry the total original cost from Form 4565 
Page 1, Line 8: This question requires you to disclose other            to line 14a. See the instructions to Form 4565. If you had solar 
businesses that share space with you at the location(s) of your         energy system assets on December 31, 2022, complete Form 
business. If you answer “Yes” attach a list of all other businesses     5762 Solar Energy System Report and carry the total original cost 
operating at your location(s). If you are located in a shopping         from Form 5762 to line 14a. See the instructions for Form 5762.
center, office building or other multi-tenant facility, you are not     Page 1, Line 15: If you had cellular (wireless) site assets on 
required to list businesses having a different legal address.           December  31,  2022,  complete  and  file  Form  4452,  Cellular 
Page 1, Line 9: Complete Sections A through F, page 2, and add          (Wireless) Site Equipment Personal Property Report, and carry 
the totals from Sections A through F to arrive at a Cost Grand          the Total Original Cost from Form 4452 to line 15a. See the 
Total. Insert the Cost Grand Total in the box indicated at the          instructions to Form 4452. 
bottom of page 2 and carry that amount to page 1, line 9a. 
Page 1, Line 10: Complete Sections G through K, page 3, and             PAGE 2 — GENERAL INSTRUCTIONS FOR SECTIONS A 
add the totals from Sections G through K to arrive at a Cost            THROUGH F:
Grand Total. Insert the Cost Grand Total in the box indicated at        You must report in these Sections the full acquisition cost new, in 
the bottom of page 3 and carry the amount to page 1, line 10a.          the year of its acquisition new, of all machinery and equipment, 
                                                                        computer equipment, furniture and fixtures, signs, coin operated 
Page 1, Line 11: Complete Sections L through O, page 4, and 
                                                                        equipment,  office  equipment,  electronic,  video  and  testing 
add the totals from Sections M and N to arrive at a Cost Grand 
                                                                        equipment, rental video tapes and games and other tangible 
Total, as directed by the instruction at the bottom of the page. 
                                                                        personal property owned by you and located in this assessment 
Insert the Cost Grand Total in the box indicated at the bottom of 
                                                                        jurisdiction, 
page 4 and carry the amount to page 1, line 11a.                                      even if you have fully depreciated the asset or 
                                                                        have expensed the asset under Section 179 of the Internal 
Page 1, Line 12:  If  you  had  assets  that  qualified  as  “idle 
                                                                        Revenue Code or under your accounting policies. All costs 
equipment” or as “obsolete or surplus equipment” on December 
                                                                        reported must include freight, sales tax and installation 
31,  2022,  complete  Form  2698,  Idle  Equipment,  Obsolete           costs, even in cases where the cost was actually incurred by 
Equipment and Surplus Equipment Report, and carry the Total             another. Imputed sales tax, freight and installation costs must 
Original Cost from Form 2698 to line 12a.                               be reported by equipment leasing companies in cases where 
“Idle  equipment”  is  equipment  that  is  part  of  a  discontinued   the lessee has paid or will pay such costs, or will provide the 
process and that has been disconnected and is stored in a               equivalent benefit in kind. Sales/Use tax must be imputed and 
separate location. Assets are not  “idle” if they are present as        reported by equipment leasing companies in cases where the 
standby equipment, are used intermittently or are used on a             lessee is paying sales or use tax on installment lease payments. 
seasonal basis. “Obsolete or surplus equipment” is equipment            The costs reported must include all costs (except capitalized 
that  either  requires  rebuilding  and  is  in  the  possession  of  a interest)  that  would  be  capitalized  by  an  end-user/owner  of

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632, Page 9
the property under generally accepted accounting principles, exempt. Special mobile equipment, as defined by MCL 257.62,
including overheads and “indirect costs” associated with the and nonregistered motor vehicles are assessable. Computer
process of constructing, acquiring or making the property software, if the purchase was evidenced by a separate invoice
available for use. Capitalized expenditures made to a piece of amount, and asset number, and if the software is commonly
machinery or equipment after the initial acquisition year must be sold separately, is exempt.
reported in the year the expenditure is booked as a fixed asset. If you have had “Move Ins” of used property during calendar year
These costs must be reported the same as they are shown on 2022, you must complete Form 3966, in addition to completing
your financial accounting fixed asset records, assuming that Form 632 (L-4175). You can obtain Form 3966 from the Michigan
you account using generally accepted accounting principles. Department of Treasury Web Site at www.michigan.gov/taxes
You must also report in these Sections any other tangible or from your local assessor. “Move-Ins” are items of assessable
personal property in your possession or under your control in this personal property that were not assessed in this city or township
jurisdiction that is not reported under Sections G through N. If you in 2022, including: acquisitions of previously used personal
purchased an asset used, and do not know and cannot ascertain property (which should be reported in the year it was new and
the acquisition cost new, attach the list and explanation required at the cost when new); used personal property you have moved
by the Page 1, Line 6 instructions. The acquisition costs for the in from outside this city or township; personal property that was
assets reported under each Section must be totaled for each exempt in 2022 (such as exempt industrial facilities tax property);
acquisition year. Place the yearly total on the line of the Section and personal property that you mistakenly omitted from your
corresponding to the year that the property was acquired. You statement in 2022. “Move-Ins” do not include property moved
must report the original acquisition cost, not your estimation from another location within this city or township or assessed
of the value of the property. Equipment not fully installed on to another taxpayer within this city or township in 2022 (i.e.
December 31, 2022, should be reported on Page 1, Line 13 property reported by a previous owner or previously leased
and should not be reported in these Sections. Property that was property reported by the lessor to this city or township last year).
reported as construction in progress last year but which was All “Move-Ins” must be reported in the appropriate Section of
placed in service on or before December 31, 2022, should be Form 632 (L-4175), in addition to being reported on Form 3966.
entirely reported on the 2022 acquisition line of the appropriate Do not report 2022 acquisitions of new property on Form 3966.
table, not the 2021 line. Similarly, the cost of all assets must be
You must report the cost of business trade fixtures in the
reported as acquired in the year that they were placed in service,
appropriate Section, A through F, rather than in Section M where
rather than the year of purchase, if those years differ.
you report leasehold improvements. You must also report the
Leased assets and “daily rental property” must be reported by costs of installing personal property in the appropriate Section, A
the Owner on Sections A through H in the same manner as other through F. Trade fixtures and installation costs of machinery and
property, using a cost which represents the price that would be equipment must not be reported in Section M, even if you have
paid by an end-user to acquire ownership of the property if it booked them as leasehold improvements for financial accounting
were to purchase rather than lease or rent. An itemized listing of purposes. Trade fixtures are items of property that have been
the property must also be made in Section L (for leased assets) attached to real estate by a tenant to facilitate the tenant’s use of
or pursuant to the requirements of the instructions for Page 1, the property for business purposes and which are both capable of
Line 7 (for daily rental assets). Lessors do not report Eligible being removed and are removable by the tenant under the terms
Manufacturing Personal Property (EMPP), which may be reported of the lease. Examples of trade fixtures are certain costs related
by the lessee on Form 5278 if the lessor and lessee make the to telephone and security systems and most signs. Examples
election and include Form 5467 when filing Form 5278. of installation costs are the costs of machine foundations and
All leased and daily rental assets must be reported by, and must electric, water, gas and pneumatic connections for individual
be assessed to, the owner (the lessor or daily rental company), manufacturing machines.
in spite of any agreement to the contrary between the parties to The costs of an electrical generating facility, including the costs
the lease or rental agreement, unless the property is EMPP, is of all attached equipment that is integrated as a component
“qualified personal property” or is owned by a bank. Leased and in accomplishing the generating process, such as boilers, gas
rental property must be reported at selling price new, even if the turbines and generators, are not reported on this form. An
owner is the manufacturer of the asset or acquired the asset in exception is a small, movable generating unit that has a fixed
the wholesale market for an amount less than the price that the undercarriage designed to allow easy movement of the unit
end-user would have incurred to purchase the asset. If the asset from place to place to provide temporary electric power. Other
is of a type that it is never sold to an end-user or if you have exceptions are wind energy systems and solar farms. See
constructed the asset for your own use, report the price at which instructions to Page 1, Line 14.
the asset would sell if a market sale did occur. See STC Bulletin The costs associated with a generating facility that does not have
8 of 2007. a fixed undercarriage must be reported to the assessor on the
The cost reported in each of the Sections of this form and on the appropriate Real Property Statement (Form 3991 - Gas Turbine
forms used with this form should include the full invoiced cost, and Diesel; Form 4070 - Hydroelectric; Form 4094 - Steam).
without deduction for the value of certain inducements such as The costs associated with small, movable electrical generation
service agreements and warranties when these inducements are units that have a fixed undercarriage and the costs associated
regularly provided without additional charge. with other unattached, movable machinery and equipment used
Inventory is exempt from assessment. Inventory does not at generating facilities, such as front loaders, forklifts, etc. are
include personal property under lease or principally intended reported in Section B of this form.
for lease or rental, rather than sale. Property allowed a A summary of the items that should be reported in each
cost recovery allowance or depreciation under the Internal Section is contained in STC Bulletin 12 of 1999, its later annual
Revenue Code is not inventory. Motor vehicles registered with supplement(s) and in these instructions. These bulletins, along
the Michigan Secretary of State on December 31, 2022 are with forms and other bulletins can be accessed via our Web

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632, Page 10
site at www.michigan.gov/taxes.  MCL  211.19  requires  that            video  equipment  [used  for  receiving,  transmitting,  recording, 
you  complete  this  form  in  accordance  with  the  directions  on    producing and broadcasting], amplifiers, CD, cassette and disc 
the form and in these instructions. You may, however, attach            players, speakers, cable television local origination equipment, 
supplementary material for the assessor to consider in making his       electronic scales, surveillance equipment, electronic diagnostic 
or her valuation decisions. If you have questions regarding proper      and testing equipment (for automotive shops, medical offices, 
categorization of property, contact the State Tax Commission for        hospitals and dental offices), ophthalmology testing equipment, 
clarification.                                                          satellite dishes, video-screen arcade games, electronic testing 
Completion of Section A, Page 2: The assets to be reported              equipment, electronic laboratory equipment, cellular telephones, 
in this Section include decorations, seating, furniture (for offices,   medical  laser  equipment,  reverse  osmosis  and  hemodialysis 
apartments, restaurants, stores and gaming establishments),             systems, movable dynamometer, spectrum analyzer, security 
shelving and racks, animal cages and tanks, lockers, modular            systems, 2-way and mobile land radio equipment, pay-per-view 
office components, cabinets, counters, rent-to-own furnishings,         systems, wooden and plastic pallets and shipping containers, 
medical exam room furnishings, therapeutic medical beds and             rental musical instruments and distributive control systems (see 
bedding, bookcases, displays, mobile office trailers, special use       STC Bulletin 3 of 2000). Office machines which are not capable 
sinks (such as those found in medical offices, beauty shops and         of  being  integrated  into  a  local  area  or  wide  area  computer 
restaurants), tables, nonelectronic recreational equipment, filing      network, office machines that are only capable of being used as 
systems, slat walls, non-freestanding signs, window treatments,         a facsimile transmitting/receiving machine and/or as a copier, 
uniforms and linens, cooking, baking and eating implements,             and office machines that are multifunctional but are not capable 
shopping carts, booths and bars. Other assets may be included           of being used as a computer peripheral, are reported in this 
at a later time.                                                        Section. A copier is a freestanding or desktop piece of office 
                                                                        equipment, which is most commonly used in an office setting, 
Completion of Section B, Page 2: The assets to be reported 
in  this  Section  include  all  assets  that  are  not  designated     and which is primarily designed to print, or to make copies of 
for  disclosure  in  another  Section.  Specifically,  such  assets     short-run text material produced in that office. Copiers generally 
include  the  following  types  of  machinery  and  equipment:  air     use commercially available 81/2” by 11” bond or copy paper and 
compressors,  airport  ground,  non-coin  operated  amusement           produce duplicate originals of text documents in such a way that 
rides and devices, auto repair & maintenance, beauty and barber         the use of carbon paper or other duplicating processes can be 
shop, boiler, furnace, bottling & canning, crane and hoist, car         avoided. Printing presses are not copiers and must be reported 
wash, chemical processing, construction, unlicensed vehicular,          in Section B of this form even if the operation of the printing press 
conveyor, non-coin operated dry cleaning and laundry, air makeup        is regulated or controlled digitally, is controlled by a computer, 
and  exhaust  systems,  manufacturing  and  fabricating,  food          or is automated. A printing press is a device designed primarily 
processing, gym & exercise, heat treating, landscaping, sawmill,        to produce commercial runs of printed material, such as books, 
incinerators, maintenance and janitorial, nonelectronic medical         pamphlets,  forms,  magazines,  newspapers,  or  advertising 
and dental and laboratory and veterinary equipment, mining and          circulars,  for  commercial  sale,  regardless  of  the  technology 
quarrying, mortuary & cemetery, painting, hydrocarbon refining          employed in such production and regardless of the type of paper 
and production and distribution, plastics, pottery & ceramics,          which  is  used. The  definition  of  a  printing  press  specifically 
printing and newspaper, rubber manufacturing, scales, ski lifts,        includes any machine that employs an offset or other non-impact 
smelting, stone & clay processing, supermarket, textile, tanning,       printing process, if the machine otherwise meets the definition of 
vehicle mounted, waste containers, wire product manufacturing,          a printing press. Cellular site equipment, specifically including 
woodworking,  automated  tellers  (ATM),  computer  controlled          communication towers and land improvements must be reported 
lighting,  CNC  controlled  manufacturing,  theater  equipment,         on Form 4452, rather than in this Section. If you are not required 
                                                                        to  report  communication  tower  and  land  improvement  costs 
restaurant  food  preparation  and  dispensing  and  storing  and 
serving equipment, soft drink fountains, coin counters, beverage        on Form 4452, you must report such costs in Section N of this 
container  return  machines,  storage  tanks,  hand  tools  of          form. See the instructions for Form 4452. Other assets may be 
mechanics and trades, nonregistered motor vehicles, freestanding        included at a later time. 
and other safes not assessed as real property, oil and gas field        Completion of Section E, Page 2: The assets to be reported 
equipment  and  gathering  lines  prior  to  commingling  product       in this Section include consumer coin-operated equipment such 
with  other  wells  (other  lines  are  reported  in  Section  J,  Form as bill & change machines, juke boxes, pin ball machines, coin-
3589), portable toilets, metal shipping pallets and containers,         operated pool tables and other non-video arcade games, snack 
portable saw mills, LP tanks under 2,000 gallons, fuel dispensing       & beverage machines, other vending machines, news boxes, 
control consoles, computer-controlled printing presses, stereo          laundry equipment, coin operated telephones and slot machines. 
lithography apparatus, forklift trucks, non-coin operated gaming        Other assets may be included at a later time.
apparatus and computerized and mechanical handling equipment,           Completion of Section F, Page 2: The assets to be reported in 
commercial mail sorting operation equipment, pill counters, pram        this Section include assessable software, personal and midrange 
robotics. Other assets may be included at a later time.                 and mainframe computer and peripheral equipment, including 
Completion of Section C, Page 2: Report the acquisition cost            servers,  data  storage  devices,  CPUs,  input  devices  such  as 
new and the year of acquisition of rental videotapes, rental video      scanners and keyboards, output devices such as printers and 
games, rental DVD’s and rental laser disks owned by you at this         plotters, monitors, networking equipment, computerized point 
location. Other assets may be included at a later time.                 of sale terminals, global positioning system equipment, lottery 
Completion of Section D, Page 2: The assets to be reported              ticket terminals, gambling tote equipment, pager instruments, 
in this Section include office machines, non-computerized cash          cable television converters and receivers for home satellite dish 
registers, faxes, mailing and binding equipment, photography            television systems. 
and  developing  equipment,  shredders,  projectors,  telephone         A programmable logic control device for a machine should be 
and  switchboard  systems  (even  if  computerized),  audio  and        reported in Section B with the machine it serves. Office machines

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632, Page 11
which are capable of being integrated into a local area or wide year and is required to have made a written agreement with you
area computer network and office machines that are single in which it is specifically agreed that you will report the property
function, or multifunction, and which are capable of being used to the assessor as “qualified personal property.” See MCL 211.8a.
as a computer peripheral, including copiers that can be used as Section J, Page 3: Report all business machines, postage
a computer peripheral, are reported in this Section. Other assets meters, machinery, equipment, furniture, fixtures, tools, burglar
may be included at a later time. alarms, signs and advertising devices and other tangible personal
Cost Grand Total, Page 2: After you have completed Sections A property that you are renting or leasing from another person or
through F, add together the totals of cells A1 through F1 to arrive entity. Provide all of the information requested for each lease.
at a Cost Grand Total. Insert the Cost Grand Total in the box You must provide the actual or estimated selling price new of the
indicated at the bottom of page 2 and carry to page 1, line 10a. asset so control totals can be generated for use on the Summary
Section G , Page 3: Report all nonexempt tangible personal and Certification portion of page 1. MCL 211.13 provides that
property owned by you at this location that is not entitled to all tangible personal property shall be assessed to the owner
depreciation/cost recovery under the United States Internal thereof, unless the owner is not known. A personal property
statement will be sent to the owner. Property reported in this
Revenue Code or that the assessor has told you to report in this
Section or that otherwise presents special valuation problems. An Section should not be reported elsewhere on this form.
example of property not entitled to depreciation/cost recovery is Section K, Page 3: Report all machines, meters, machinery,
fine art. Examples of properties that represent special valuation equipment, furniture, fixtures, tools, signs and advertising devices
problems are: locally-assessed copper and fiber optic cable not that are in your possession but are not owned, leased or rented
reportable in Section M, frequently supplemented professional by you. Examples include equipment left with you by vendors,
books, feature motion picture films, audio and video productions such as display racks, coolers or fountain equipment, property
not sold to the public at large, musical instruments used for loaned to you by another, property left with you for storage or
professional performance, LP tanks of 2,000 gallons or more that rebuilding, consigned equipment not held for resale and assets
have not been assessed as real property, nuclear fuel and toll sold but not yet picked up by the purchaser. Provide all of the
bridge company structures. Provide all requested information. An information requested for each asset. You must provide the
inspection of the property may be necessary. Property reported actual or estimated selling price new of the asset so that control
in this Section should not be reported elsewhere on this form. totals can be generated for use on the Summary and Certification
Section H, Page 3: Standard tools, dies, jigs, fixtures, molds, portion of page 1. MCL 211.13 provides that all tangible personal
patterns and gauges and other manufacturing requisites of a property shall be assessed to the owner thereof, unless the
similar nature (commonly referred to as “tooling”) will be valued owner is not known. A personal property statement will be sent
at an amount equal to the net book value of the asset. Report to the owner.
both Acquisition Cost New and GAAP net book value by year Cost Grand Total, Page 3: After you have completed Sections G
of acquisition in this Section. See the instructions for line 1 through K, add together the totals of cells G1 through K1 to arrive
for information regarding the tooling that is assessable. For at a Cost Grand Total. Insert the Cost Grand Total in the box
purposes of personal property reporting, net book value shall be indicated at the bottom of page 3 and carry to line 11a on page 1.
as determined using generally accepted accounting principles, in Section L, Page 4: This Section is to be completed by leasing
a manner consistent with the taxpayer’s established methods of companies and others who lease personal property to others. In
depreciation. The net book value for federal income tax purposes addition to completing this Section, you must complete Sections
shall not be used for purposes of personal property tax reporting. A through F and any other Sections that are applicable. You may
If an accounting change in estimate is indicated relating to a use attachments rather than completing this Section, but only if
particular asset, the net book value of that asset, as reported your attachment provides all the information requested on this
for personal property assessment purposes, shall be the value Section and if you insert the total original selling price where
that would have existed for that asset on December 31, 2022, if required on the form.
a correct estimate had originally been made. Your obligation to Section M, Page 4: This Section is to be completed by tenants
implement the change in estimate for personal property reporting who are renting or leasing real property. All improvements
purposes shall not be affected by a determination that no (leasehold improvements) you have made to the real property
financial accounting change in estimate is necessary due to lack should be reported, even if you believe that the improvements are
of materiality. In no event shall assessable tooling be reported not subject to assessment as personal property. Provide as much
at an amount less than is indicated by its expected remaining detail as possible so that the assessor can determine whether
useful life plus salvage value (if applicable under the depreciation a personal property assessment should be made. Coaxial
method used). and/or fiber-optic wiring costs and associated infrastructure of
Section I, Page 3: Report “qualified personal property” in this audio and/or visual systems serving subscribers of one or more
Section. Do not report “qualified personal property” in Sections multiple unit dwellings or temporary habitations under common
A through F. “Qualified personal property” is property that was ownership, and which do not use public rights-of-way shall be
made available to you by a “qualified business” (usually a leasing reported in this Section and be clearly identified as such. You
company or a finance company) and which is not assessable to may use attachments, but only if your attachment provides all the
the “qualified business.” Such property is assessable to you as information requested in this Section and if you insert the Total
the user. The requirements for “qualified business” treatment Cost Incurred where required on the form. See the instructions
are strict and many leasing and financing companies do not for page 1, line 5 for additional explanation.
qualify. Further, such treatment only applies to property subject Section N, Page 4: Report the total capitalized cost and year of
to an agreement (usually labeled a lease) entered into after construction of buildings and other structures you have placed
December 31, 1993 that qualifies for treatment as “qualified on land not owned by you, such as leased or public lands or
personal property.” The “qualified business” is required to have on public rights-of-way. Costs of freestanding communications
filed a statement with the assessor by February 1st of the current towers and associated equipment buildings (unless such costs

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632, Page 12

have been reported on Form 4452) and costs of freestanding 
billboards  are  examples  of  other  structures  that  are  to  be 
reported. The reported cost must include all costs capitalized on 
your records. See STC Bulletin 8 of 2007.
Section O, Page 5: Landlords and tenants must provide rental 
information relating to lease arrangements to which they are 
a party. Do not report lease or rental arrangements relating to 
property occupied for residential purposes. If you are a landlord 
with  multiple  properties,  contact  the  assessor  to  arrange  an 
acceptable  alternative  reporting  method.  See  instructions  for 
page 1, line 5.
Cost Grand Total, Page 4: After you have completed Sections 
M and N, add together the totals of cells M1 and N1 to arrive at a 
Cost Grand Total. Insert the Cost Grand Total in the box indicated 
at the bottom of page 4 and carry to line 12a on page 1.

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