AL HB219

Proposes a constitutional amendment to limit annual increases in appraised value of single-family owner-occupied residential property to 3 percent for ad valorem tax purposes, effective for the tax year beginning October 1, 2021.

Any increase in appraised value exceeding 3 percent would be carried over and added to the appraised value in the next tax year and successive years, provided the combined current year increase and carry-over amount does not exceed 3 percent in any given tax year.

Amendment becomes effective for computing ad valorem taxes due on October 1, 2022, and each tax year thereafter.

Requires approval by a majority of qualified electors voting in an election held in accordance with Alabama Constitution Sections 284 and 285 and state election laws.

Election official must place the amendment on the ballot with a description of the subject matter followed by "Yes ( ) No ( )" voting options.