Loading chat...
AL HB215
Bill
Status
1/14/2014
Primary Sponsor
Todd Greeson
Click for details
AI Summary
-
Class II and Class III real property in Alabama shall not be reappraised more often than once every four tax years.
-
The four-year reappraisal cycle applies only when a county's level of equalization falls between 90 percent and 105 percent with a coefficient of dispersion of no greater than 20, as determined by annual sales ratio studies conducted by the Department of Revenue.
-
Counties whose sales ratio analysis falls outside the specified parameters must reappraise all property to current market value plus or minus 2 percentage points as reflected by sales ratio studies.
-
Amends Section 40-7-60 of the Code of Alabama 1975 regarding the Department of Revenue's supervision and regulation of property reappraisal.
-
Effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Ad valorem tax, Class II and Class III property, reappraisal every four years, Sec. 40-7-60 am'd.
Taxation
Last Action
Read for the first time and referred to the House of Representatives committee on County and Municipal Government
1/14/2014