New personal property means personal property that was not previously subject to tax under this act or was not previously placed in service in this state and that is placed in an eligible district after a resolution under subsection (1) is approved. As used in this subdivision, for exemptions approved by the state treasurer under subsection (3) after April 30, 1999, new personal property does not include buildings described in section 14(6) and personal property described in section 8(h), (i), and (j). For exemptions subject to resolutions adopted under subsection (1) after December 31, 2014, new personal property does not include eligible manufacturing personal property.
New personal property means property that was initially placed in service in this state or outside of this state after December 31, 2012 or that was construction in progress on or after December 31, 2012 that had not been placed in service in this state or outside of this state before 2013.
New personal property means personal property that was not previously subject to tax under this act and that is placed in an eligible district after a resolution under subsection (1) is approved by the eligible local assessing district. As used in this subdivision, for exemptions approved by the state tax commission under subsection (3) after April 30, 1999, new personal property does not include buildings described in section 14(6) and personal property described in section 8(h), (i), and (j).
Examples of New personal property in a sentence
New personal property in a new improvement must have been brought into the taxing unit after Jan.
New personal property in a new improvement must have been brought into the school district after Jan.
New personal property in a new improvement must have been brought into the taxing unit after January 1, 2017 and be located in a new improvement.
New personal property reported for the first time, not previously reported by the lessor, will report only the current year parcel number where the personal property will be reported, the local unit, county and lease agreement expiration date.
New personal property in a new improvement must have been brought into the taxing unit after January 1, 2015 and be located in a new improvement.
More Definitions of New personal property
New personal property is defined in the act to means property that (1) was not, before January 1, 2013, subject to or exempt from taxation and was not in use or placed in service in the state; (2) before January 1, 2013, was not in use or placed services outside of the state; and (3) was initially purchased from a vendor or new property after December 31, 2012. The bill, instead, defines "new personal property" to mean property that was initially placed in service in this state or outside of the state after December 31, 2012.
New personal property. As defined in Section 6.2.
New personal property means business personal property that:
New personal property means personal property that was
New personal property means personal property that was not previously subject to tax under this act or was not previously placed in service in this state and that is placed in an eligible district after a resolution
New personal property means property that meets all of the following conditions: (i) Before January 1, 2013, was not subject to or exempt from the collection of taxes under this act, except inventory exempt under section 9c, and was not in use or placed in service in this state; (ii) Before January 1, 2013, was not in use or placed in service outside of this state; and (iii) Was initially purchased from the manufac- turer, dealer, distributor, or other vendor of new property after December 31, 2012.
New personal property means tangible personal property taxable for the first time in the current tax year. The assessed value of new personal property is listed on line one of each group on the annual personal property schedule, with the exception of groups 7, 8 and 10.