HB162 Summary

• Clarifies that homestead ad valorem tax exemptions for seniors (65+), disabled persons, and blind individuals apply only to the exempt owner's proportionate share when property is jointly owned with ineligible co-owners.

• Requires persons claiming exemptions to provide tax assessors with legal documents establishing their ownership percentage; if documentation is unavailable, exemption is calculated by assuming all owners share equally based on the most recent deed.

• Amends Sections 40-9-19 and 40-9-21 of the Code of Alabama 1975 to address previously unclear application of exemptions to jointly owned homesteads.

• Directs the Department of Revenue to promulgate regulations for identifying and calculating proportionate share exemptions.

• Becomes effective October 1, 2010.