AL HB543

Increases the market value threshold for tangible personal property exemption from state ad valorem tax from $40,000 to $100,000.

Allows counties and municipalities to adopt the same $100,000 exemption for county or municipal ad valorem taxes on tangible personal property by resolution or ordinance.

Requires local jurisdictions adopting the exemption to pass their ordinance or resolution at least 90 days prior to October 1 of the electing year.

Updates technical language in Section 40-9-1, Code of Alabama 1975, to current style while maintaining existing exemptions for various property types and entities.

Becomes effective October 1, 2025.