The Property Tax Division of the Alabama Department of Revenue has established procedures in the Alabama Personal Property Appraisal Manual for determining market value and the assessed value of personal property. All counties in the state of Alabama use this manual to achieve uniformity. The type of business, type of equipment, acquisition year, and acquisition date are all used in calculating market values. For example, computer equipment depreciates more quickly than office furniture. Personal Property falls into Class II property and is assessed at 20% of its market value.