HB64 Alabama 2010 Session

Sponsors

Session

Regular Session 2010

Title

Ad valorem tax, classifications of property, aircraft, privately owned, noncommercial, included within Class IV Property, effective on adoption of const. amend., Sec. 40-8-1 am'd.

Description

<p class="bill_description"> Under existing law, real and personal property is classified in different categories for ad valorem taxation purposes. The various classifications are taxed at different rates</p><p class="bill_description"> Currently, privately owned, noncommercial aircraft are taxed at 20 percent and private motor vehicles are taxed at 15 percent</p><p class="bill_description"> This bill, which would only become effective upon the adoption of an authorizing constitutional amendment, would include privately owned, noncommercial aircraft within Class IV</p><p class="bill_entitled_an_act"> To amend Section 40-8-1, Code of Alabama 1975, relating to the classifications of property for ad valorem tax purposes, to include privately owned, noncommercial aircraft within Class IV, to become effective on the adoption of an authorizing constitutional amendment. </p>

Subjects

Aircraft