Commission merchants and all persons trading and dealing on commission, assignees and consignees authorized to sell and persons having in their possession goods, wares, or merchandise belonging to another and subject to taxation in any county, city, or town of Alabama, where said property is located, when the owner of the property does not reside in the county, are deemed to be owners of the property in their possession for the purpose of assessment, and unless such goods, wares, or merchandise have been otherwise listed for taxation, the same shall be listed separately from any other goods, wares, or merchandise owned by such person, firm, or corporation for taxation, and the name of the assignor or consignor shall be listed on the return, the same shall be assessed for taxation to the person, firm, or corporation who has such goods, wares, or merchandise in their possession, and in no case shall the assessment be less than the amount specified by law on the fair and reasonable market value of the average amount of goods, wares, and merchandise so held during the 12 months next preceding October 1 when same are due to be assessed for taxation. In assessing such stock of goods, wares, or merchandise, the assessor shall require the production of the last inventory taken and attach the same to the tax return list, and if in the judgment of the assessor such inventory is incorrect or if such time has elapsed since the inventory was taken that it shall have ceased to be reliable as to the value or amount thereof, he shall have the right to examine the books of the person who has the property in his possession or the property itself or use such other information as he can obtain.
Structure Code of Alabama
Title 40 - Revenue and Taxation.
Chapter 7 - Assessment of Taxes Generally.
Article 1 - General Provisions.
Section 40-7-1 - Authority of Tax Assessor; Duties of Taxpayer.
Section 40-7-2 - Commencement and Completion of Assessment; Supplemental Assessment.
Section 40-7-2.1 - Timing of Property Assessments, etc., Homestead Exemption.
Section 40-7-5 - Oath to Be Administered Before Return Made.
Section 40-7-7 - When Taxpayer May Mail List or Send by Another Person.
Section 40-7-8 - Oath to Be Used on Bottom of Assessment Sheet.
Section 40-7-9 - Assessor Authorized to Correct Error in Computing Taxes Due.
Section 40-7-10 - Allowance of Statutory Exemptions; Property No Longer Exempt.
Section 40-7-11 - Failure to Report Improvements.
Section 40-7-12 - Fraudulent Failure to Report Change in Condition of Property, Etc.
Section 40-7-14 - Taxpayer to Give Estimated Values; Preceding Year's Valuation Entered by Assessor.
Section 40-7-15 - Property to Be Appraised at Fair Market Value.
Section 40-7-16 - How Real Estate May Be Described.
Section 40-7-17 - By Whom Property Should Be Listed.
Section 40-7-19 - Demand Against Persons Failing to Make Returns.
Section 40-7-20 - Separate Returns to Be Filed in Individual and Fiduciary Capacity.
Section 40-7-22 - Procedure by Assessor Upon Failure to Procure List.
Section 40-7-23 - Assessment of Escaped Taxes; Avoidance of Penalty; Notice and Collection.
Section 40-7-24 - Failure to Make Return of Gross or Net Receipts or Commissions From Business.
Section 40-7-25 - Estimation of Fair Market Value; Assessment List; Notice; Objections.
Section 40-7-28 - Correction of Improvement Assessment When Improvements Nonexistent.
Section 40-7-29 - By Whom and When Penalties Remitted.
Section 40-7-30 - Assessor Notified of Appointment of Fiduciaries.
Section 40-7-31 - Assessment to "Owners unknown."
Section 40-7-32 - Fees of Assessor for Returns on Escaped Property.
Section 40-7-33 - Book of Assessments - Required; Form; Use of Assessment Lists in Lieu of Book.
Section 40-7-34 - Book of Assessments - to Be Certified by Department.
Section 40-7-35 - Same Abstracts of Property Contained in Book.
Section 40-7-36 - Book Showing Amount of Taxes Delivered to Collector.
Section 40-7-37 - Plat Books - Blocks and Lots Platted and Recorded.
Section 40-7-38 - Plat Books - All Real Estate.
Section 40-7-39 - Plat Books - Annual Revision.
Section 40-7-40 - Plat Books - Failure to Comply With Sections 40-7-37 Through 40-7-39.
Section 40-7-41 - Plat Books - Where Kept.
Section 40-7-42 - Levy of Taxes From Book of Assessments.
Section 40-7-44 - Assessment Against Auctioneers.
Section 40-7-45 - Appeals - Right; Time.
Section 40-7-46 - Appeals - Notice.
Section 40-7-47 - Appeals - Trial.
Section 40-7-48 - Appeals - Judgment of Revaluation.
Section 40-7-49 - Rules and Regulations.
Section 40-7-50 - Voluntary Check-Off Designation for Alabama Association of Rescue Squads, Inc.