Bill > HB310

This bill proposes a constitutional amendment for Limestone County that would allow individuals aged 65 or older to receive a senior property tax exemption on their primary residence, provided they have owned and lived in it for at least five years. This exemption would freeze the property's assessed value at the level it was the year before the exemption is claimed, meaning the county would not collect additional property taxes on any increase in value of that specific property as long as the owner continues to reside there. However, the property would still be subject to any changes in millage rates, which are the tax rates applied to property, and any new additions or improvements to the property after the exemption is claimed would have their increased value added to the taxable assessment. The exemption could be claimed starting October 1, 2027, for the property's value from October 1, 2026, and must be applied for in writing with the Limestone County Revenue Commissioner between October 1 and December 31. This proposed amendment will be put to a vote of the people, and if approved, will become part of the Alabama Constitution.

Government Affairs

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