This form is Schedule B. The form may be used to list information concerning types of personal property; description and location of personal property; and the current market value of the debtor's interest in the property. This form is data enabled to comply with CM/ECF electronic filing standards. This form is for post 2005 act cases.
Alabama Personal Property - Schedule B - Form 6B - Post 2005
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How to fill out Personal Property - Schedule B - Form 6B - Post 2005?
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For example: $100,000 (Appraised Value) X (Residential Rate: 10%) = $10,000 (Assessed Value) $10,000 (Assessed Value) X . 0325 (County Millage Rate of 32.5 mills) = $325 (Tax Amount)
Tangible Personal Property Personal property is considered Class II property and is taxed at 20 percent of market value. Market value multiplied by 20 percent equals the assessment value, which is then multiplied by the appropriate jurisdiction's millage rates to determine the amount of tax due.
Tangible personal property is mainly a tax term which is used to describe personal property that can be felt or touched, and can be physically relocated. For example: cars, furniture, jewelry, household goods and appliances, business equipment.
Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.
Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.
Tangible personal property is taxed ad valorem. This means that taxes are assessed ing to the item's perceived fair market value. So, if your county taxes your personal motor vehicles each year, your tax bill will be based on the perceived market value of the vehicle.
In the State of Alabama the assessment level is 20% for personal property. To illustrate: A property with a fair market value of $5,000 is to be taxed. The district tax rate is 7%.
Privately owned (titled owner) passenger automobiles and pickup trucks are assessed at 15% of market value. All other vehicles are assessed at 20% of market value. To determine the market value assigned to your vehicle, divide the assessed value by the assessment rate (15% or 20%), (1500 assessed value divided by .