Movingthere
I'm moving there and have wondered about this. Perhaps someone out there can let tell us.
So far this is what I've dug up:
810-4-1-.09 Valuation of Aircraft.
(g) The tax lien shall attach to ?kit? or ?self-assembled? aircraft at the time it is inspected and approved as airworthy. Prior to inspection and approval as airworthy, the market value of the ?parts? will be their cost and the cost will be used as the basis each year until the inspection and approval of airworthiness is achieved. The cost will be indexed using the index using the index factors for the October 1 of each tax year in which the parts are reported.
(h) Any aircraft that is reported as not airworthy is subject to property tax on the lien date of October 1 each year.
GUIDELINES FOR THE ASSESSMENT OF AIRCRAFT SHALL BE:
a. All aircraft are assessed as Class II property (20% of market value).
b. The retail value in the valuation guide provided by the Department of
Revenue shall be the basis for determining the market value of the aircraft. The
market value shall be 89% of the retail value of the aircraft, adjusted for condition,
avionics, etc., to arrive at a fair market value.
c. The purchase price, plus any additional cost for rebuilding or modifications,
will be the basis of assessed value when a value is not provided in the valuation
guide. The assessed value will be determined by taking 20% of the total cost.
However, the assessed value shall not go below the $500 minimum assessed
value for aircraft.
d. Airplanes used exclusively for the purpose of crop dusting are exempt from
ad valorem tax. A taxpayer should claim the exemption at the time the property is
assessed.
e. Aircraft are to be assessed in the county in which the aircraft is generally
based, departs from, and returns to in its normal operation. The tax lien attaches
to all aircraft with situs in the state on October 1 for collection one year later. If an aircraft is not physically in the state on October 1, this does not mean the aircraft is not taxable for the entire year. If the aircraft is normally kept in the state, even though it may have been out of the state on October 1, it would be taxable.
f. The tax lien shall attach to assembled aircraft at the time it is inspected and
approved as airworthy.
So if I get this right, if my RV has a retail value of 90K, That means the market value is $80,100. 20% of that is $16,020. According to mill rate for the state of AL is 6.5, that would be an annual personal property tax of $104.13.