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August 5, 2014 - On Tuesday, August 5, Michigan voters overwhelmingly (69-31%; Associated Press) passed Proposal 1. The approval of this proposal authorizes the continuation of the "small business" exemption, which actually began for the 2014 tax year. This exemption applies to business that have equipment with a true cash value of $80,000 or less. The proposal also provides for a phase out of the personal property taxes on "eligible manufacturing personal property". This phase out will take begin for the 2016 tax year and will exempt all "eligible manufacturing personal property" by 2023. The proposal also authorizes several measures o replace the revenue that will be lost due to the new exemptions and authorizes the creation of a Local Community Stabilization Authority to levy the local share of the use tax and distribute that revenue to municipalities. The intent is to allow local municipalities to avoid cutbacks to services such as police and fire. (Source of information, State of Michigan State Fiscal Agency) Frischman Appraisal & Consulting can help you understand how this might affect your business. Contact us at 734-340-4096 or FRISCHMANAPPRAISAL@yahoo.com read more news
 
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I have had a very favorable experience working with the Frischman Appraisal & Consulting in the private sector as well as with Sharon Frischman in the public sector. Frischman Appraisal & Consulting is gaining a great reputation for their soaring level of expertise and professionalism in the field of machinery and equipment appraisal. Sharon Frischman is a highly sought after appraiser and consultant and has been involved in many high profile Michigan Tax Tribunal cases. Howard Frischman provides comprehensive research on each appraisal assignment. I feel confident in Frischman Appraisal & Consulting’s ability to give highly satisfactory appraisal and consulting services to whomever they serve. I look forward to working with them again in the future. Mark Rodriguez read more
 

Industry Related News

August 5, 2014 – On Tuesday, August 5, Michigan voters overwhelmingly (69-31%; Associated Press) passed Proposal 1. The approval of this proposal authorizes the continuation of the "small business" exemption, which actually began for the 2014 tax year. This exemption applies to business that have equipment with a true cash value of $80,000 or less. The proposal also provides for a phase out of the personal property taxes on "eligible manufacturing personal property". This phase out will take begin for the 2016 tax year and will exempt all "eligible manufacturing personal property" by 2023. The proposal also authorizes several measures o replace the revenue that will be lost due to the new exemptions and authorizes the creation of a Local Community Stabilization Authority to levy the local share of the use tax and distribute that revenue to municipalities. The intent is to allow local municipalities to avoid cutbacks to services such as police and fire. (Source of information, State of Michigan State Fiscal Agency) Frischman Appraisal & Consulting can help you understand how this might affect your business. Contact us at 734-340-4096 or FRISCHMANAPPRAISAL@yahoo.com

January 1, 2014 - As of 2014, businesses that have personal property where “the True Cash Value of all of the commercial or industrial personal property located within the city or township that is owned by, leased to, or in the possession of the owner or a related entity was less than $80,000 on December 31, 2013” are eligible for an exemption from paying the personal property tax. Businesses can fill out Form 5076 instead of their form L-4175 (2014 Personal Property Statement). This must be filed by February 10, 2014 with their assessor. Businesses that need help with the forms or determining if their personal property is eligible for this exemption can contact Frischman Appraisal & Consulting for assistance.

August 5, 2013 - Frischman Appraisal & Consulting has been chosen to present at the International Association of Assessing Officers Annual Conference! We are excited to share our knowledge and skill on an international platform. This educational session on "Level of Trade and the Effect on Value of Personal Property" is scheduled for Wednesday, August 28, 10:00–11:30 am. However, we encourage anyone interested in valuation of real and personal property as well as other government issues to attend the four day conference, as we will be doing the same. Below is a link and additional information. See you there! International Association of Assessing Officers Annual Conference Grand Rapids, MI August 28th, 2013 http://www.iaao.org

November 14, 2012 - Frischman Appraisal & Consulting will be having an Open House/Fundraiser on Friday, November 30 from 4:00-7:00 at our new office at 2350 Washtenaw Ave, Suite 18, Ann Arbor, MI 48104. Stop by our new office to enjoy some refreshments and hors d'ouerves! We will also be raffling prizes to benefit the victims of Hurricane Sandy. Prizes include gift certificates for massage, gym membership and restaurants. All proceeds will go to the Red Cross. Hope to see you there!

July 20, 2012 - Frischman Appraisal will be teaching a class on Personal Property Appraisal Review for Assessors at this year's Michigan Assessors Association conference in August. The course will cover the basics of what goes into a personal property appraisal and how they differ from real property appraisals. Attendees will receive 4.0 hrs Real Estate Appraiser Continuing Education and/or 4.0 hrs STC Renewal Credit

May 23, 2011 - Both Sharon and Howard Frischman have successfully completed the four-course core educational requirements for the American Society of Appraisers Machinery and Technical Specialty designation. Frischman Appraisal & Consulting, LLC is now accepting machinery and equipment appraisal assignments.

August 13, 2010 - In a 2009 Michigan Tax Tribunal decision regarding the valuation of vacant site condominium lots in a stalled development, the Tribunal found that the highest and best use (and subsequently the basis for value) of the remaining vacant lots was individual sale for construction as opposed to a “bulk” sale to an investor. The judgment also indicates that the use of recent sales is favorable even if the prescribed sales study period used by the Assessor is broader. The State Assessor’s manual is quoted from Volume III, Chapter 9 – “The most reliable indicator of value of the subject property is a sale of a replica property that occurred very close in time to the relevant tax day.”

April 3, 2010 - Frischman Appraisal & Consulting specializes in property appraisals for Michigan Tax Tribunal appeals. The deadline for filing an appeal on commercial or industrial property is May 31st. Residential property assessments must be appealed to the local Board of Review (usually in March) before filing an appeal with the Michigan Tax Tribunal before July 31st.

Jan 26, 2010 - Personal property statements are due to the local assessor by February 20th. If you are a business owner that has recently received a personal property statement for completion and submission to the local assessor and you don't know what to do with it - give us a call. We can help!

Jan 14, 2010 - Frischman Appraisal & Consulting, LLC is hosting a seminar on Personal Property Reporting at the Canton chamber of Commerce (45525 Hanford Rd; Canton, MI) on January 14th, 2010 at 9:00 am. Incorrect reporting may lead to overpaying property taxes. After attending this timely seminar, you will have a greater understanding of what personal property includes and how and why you are required to report it to the local Assessor every year by February 20th. The cost for this seminar is $10 and a reservation is requested. Please email us at frischmanappraisal (a)yahoo dot com or call 734 834-6139 for reservations or further details. Seminar Flyer

Aug 14, 2009 - The January 1, 2009 Michigan farm real estate value, including land and buildings, averaged $3,750 per acre, according to the USDA, NASS, Michigan Field Office. Farm real estate values were down 3.8% from 2008, but virtually unchanged from 2007. Michigan is in the Lake States region, which also includes Minnesota and Wisconsin. The Lakes States region value decreased to $3,300 per acre, down 3.2%. The value of farmland in states bordering Michigan was: Wisconsin, $3,750 per acre; Ohio, $3,880 per acre; and Indiana, $4,020 per acre. (more from the Michigan Farmer