AL HB40

Proposes a constitutional amendment for Lauderdale County authorizing residents age 65 and older to claim a senior property tax exemption on single-family owner-occupied residential property used as principal residence for at least 5 years prior to claiming the exemption.

Freezes the assessed value of the property at the value from the year immediately prior to claiming the exemption.

Exemption continues as long as the property remains the taxpayer's principal residence and does not prevent claiming homestead exemptions or other authorized exemptions.

Property remains subject to millage rate changes, and any property additions after claiming the exemption are taxed based on the increase in assessed value of those additions.

Exemption may be claimed beginning October 1, 2025, for property value as of October 1, 2024, and must be claimed in writing with the Lauderdale County Revenue Commissioner between October 1 and December 31.