Taxation, to increase the market value threshold amount for which tangible personal property is exempt from state ad valorem taxation

Summary

The bill amends Alabama’s tax code so that tangible personal property valued over $120,000 owned by businesses with fewer than 50 employees is exempt from the state‑levied ad valorem tax. It also permits local jurisdictions to adopt comparable exemptions and updates the statutory language for consistency. The change is intended to lessen the tax load on small businesses.

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