Form ADV: BE-47 "Property Earning Capacity Statement" - Alabama

What Is Form ADV: BE-47?

This is a legal form that was released by the Alabama Department of Revenue - a government authority operating within Alabama. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on August 1, 2008;
  • The latest edition provided by the Alabama Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form ADV: BE-47 by clicking the link below or browse more documents and templates provided by the Alabama Department of Revenue.

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ADV: BE-47
OARD OF
QUALIZATION
8/08
Property Earning Capacity Statement
FOR REAL PROPERTY
TO BE FILED WITH YOUR COUNTY BOARD OF EQUALIZATION
PROPERTY OWNER’S NAME
PARCEL NUMBER
_ _
_ _
_ _
_ _
_
_ _ _
_ _ _
_ _ _
.
/
/
/
/
/
/
PROPERTY NAME / ADDRESS
THREE YEAR EXPENSES
20_____
20_____
20_____
Annual Operating Expenses
1 Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
$
$
2 Salaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Supplies and Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 Building Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Other (Itemize)
8 Reserve For Replacements (If any, itemize)
9 Total Annual Expenses (Total of lines 1 through 8) . . . . . . . . . . . . .
THREE YEAR GROSS INCOME
20_____
20_____
20_____
10 Annual Potential Gross Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11 Other Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 Annual Potential Gross Income From
$
$
$
All Sources (Line 10 plus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Vacancy And Credit Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 Annual Effective Gross Income (Line 12 minus line 13) . . . . . . . . .
State of Alabama, County of ____________________________________.
Under penalties of perjury, I declare that I have examined this statement and that to the best of my knowledge and belief, it is correct
and complete.
SIGNATURE OF PERSON PROTESTING VALUATION
DATE
County Board of Equalization should keep original and provide a copy to the taxpayer and the Alabama Department of Revenue.
B
E
ADV: BE-47
OARD OF
QUALIZATION
8/08
Property Earning Capacity Statement
FOR REAL PROPERTY
TO BE FILED WITH YOUR COUNTY BOARD OF EQUALIZATION
PROPERTY OWNER’S NAME
PARCEL NUMBER
_ _
_ _
_ _
_ _
_
_ _ _
_ _ _
_ _ _
.
/
/
/
/
/
/
PROPERTY NAME / ADDRESS
THREE YEAR EXPENSES
20_____
20_____
20_____
Annual Operating Expenses
1 Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
$
$
2 Salaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Supplies and Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 Building Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Other (Itemize)
8 Reserve For Replacements (If any, itemize)
9 Total Annual Expenses (Total of lines 1 through 8) . . . . . . . . . . . . .
THREE YEAR GROSS INCOME
20_____
20_____
20_____
10 Annual Potential Gross Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11 Other Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 Annual Potential Gross Income From
$
$
$
All Sources (Line 10 plus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Vacancy And Credit Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 Annual Effective Gross Income (Line 12 minus line 13) . . . . . . . . .
State of Alabama, County of ____________________________________.
Under penalties of perjury, I declare that I have examined this statement and that to the best of my knowledge and belief, it is correct
and complete.
SIGNATURE OF PERSON PROTESTING VALUATION
DATE
County Board of Equalization should keep original and provide a copy to the taxpayer and the Alabama Department of Revenue.
Instructions
Who May File.
Any person protesting valuation of property based on earning capacity.
When and Where To File.
This form is to be completed when protesting the value of real estate based on earning capacity of the
property. It is to be filed with the County Board of Equalization in the office of the County Tax Assessor or
Revenue Commissioner.
Specific Instructions
The person protesting must demonstrate why the market value is lower than the current appraised
value.
The expenses and income should be shown for three successive years prior to protest year, if possible.
Signature.
This form must be signed and dated.
Definitions
Annual Operating Expenses: The expenses necessary to operate and maintain a property so that it will
continue to generate the current net income.
Line 1 – Management
These expenses can include management fees, legal, advertising expenses, and accounting
expenses related to the operation of the property (not the owner).
Line 2 – Salaries
Salaries and benefits of employees who are employed in maintaining the property and keeping it
rented. Examples are resident manager, maintenance employees and security guards.
Line 3 – Utilities
Gas, water, sewer, electricity, garbage collection.
Line 4 – Supplies and Material
Expendable items (light bulbs, fertilizer, etc.)
Line 5 – Building Maintenance
Miscellaneous repairs, cleaning, exterminating, lawn care.
Line 6 – Insurance
Expenses for fire, casualty and liability insurance (not mortgage insurance). Premiums paid
should be prorated to 12 months coverage.
Line 7 – Other
Any other expenses necessary to operate a property.
Line 8 – Reserve For Replacement
Replacement expenses for items which will last for more than one year should be prorated to an
annual amount (roofing, exterior painting).
Line 10 – Annual Potential Gross Rent
The maximum rent that would be collected if the property was 100% occupied for 12 months.
Line 11 – Other Income
Incidental income received from the operation of the property (laundry, parking, deposits and
fees retained).
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