HB606 Alabama 2014 Session

Summary

Primary Sponsor

Jim Patterson

Republican

Session

Regular Session 2014

Title

Personal property, exempt from ad valorem tax, individual tangible taxable assets exempt from ad valorem tax, excluding real property, Sec. 40-9-1 am'd.

Description

Under existing law, all individual tangible assets, not specifically exempt by law, are subject to ad valorem taxation.

This bill would exempt all individual tangible taxable assets with an original acquisition cost of $250 or less from ad valorem taxation.

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Subjects

Taxation