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AL HB311
Bill
Status
1/19/2010
Primary Sponsor
Jack Williams
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AI Summary
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Amends Section 40-8-1 of the Alabama Code to expand the definition of residential property for ad valorem tax purposes.
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Single-family dwellings under construction are now included as residential property, classified at 10 percent assessed value ratio.
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Dwellings under construction qualify as residential property for up to 24 months from the date construction begins, or until sold or converted to another use.
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The provision applies to the underlying lot and the dwelling itself, both during and after construction.
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Effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Ad valorem tax, definition of residential property expanded to include dwellings under construction, Sec. 40-8-1 am'd.; Act 2009-508, 2009 Reg. Sess. am'd.
Property, Real and Personal
Last Action
Read for the first time and referred to the House of Representatives committee on Government Appropriations
1/19/2010