Bill > SB212

This bill proposes a constitutional amendment for Fayette County, Alabama, to allow individuals aged 65 or older to receive a senior property tax exemption on their primary residence, which must be a single-family owner-occupied home they have lived in for at least five years. This exemption would freeze the property's assessed value at the level it was before the exemption was claimed, meaning the owner would not pay increased property taxes on that frozen value even if the property's market value rises. The exemption continues as long as the property remains their principal residence, and they can still claim other exemptions like the homestead exemption. However, any new additions to the property after the exemption is claimed will be subject to ad valorem tax, which is a tax based on the value of property, based on the increase in assessed value. This exemption would be available starting October 1, 2027, and must be claimed in writing with the Fayette County Revenue Commissioner between October 1 and December 31. The bill also outlines the process for holding an election to vote on this proposed constitutional amendment.

Government Affairs

https://alison.legislature.state.al.us/bill-search