Bill > HB457

This bill proposes a constitutional amendment for Morgan County that would allow individuals aged 65 or older to claim 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 that while the property remains subject to changes in tax rates and the assessed value of any new additions or improvements would be added, the base value for taxation would not increase due to inflation or other factors affecting the existing structure. The exemption would continue as long as the owner occupies the property as their principal residence, and they would still be eligible for other property tax exemptions, such as the homestead exemption. This proposed amendment would be voted on by the citizens of Alabama and, if approved, would take effect for taxes assessed starting October 1, 2026, with claims beginning October 1, 2027.

Government Affairs

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