Government websites often end in. Personal property is generally defined as property not permanently affixed to or a part of realty. Everything that is not real estate is considered personal property.
The tax assessing official determines whether property is real property or personal property by considering the manner in which it is attached to or secured to the land and the purpose for which the property is used. Alabama is a situs state for the taxability of personal property; therefore, if property is located in the state on October 1 the lien date , then the property is taxable unless specifically exempted.
Alabama has constitutional and statutory exemptions. If you have any questions regarding taxability of personal property, call Refer to the Administrative Rules for more detailed standards and requirements.
All counties in Alabama use this manual to achieve uniformity. The type of business, type of equipment, acquisition year, and acquisition date are all used in valuation of personal property. For example, computer equipment depreciates more quickly than pieces of office furniture. Every individual, firm, or corporation owning business personal property in Alabama on October 1 of each year is required to report personal property.
Any individual, firm, or corporation owning aircraft based in Alabama, regardless of use, and any individual firm or corporation that purchases a permanent trailer tag for a tractor trailer, truck trailer, or semi-trailer is required to report them as personal property.
