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AL SB21
Bill
AI Summary
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Caps increases in assessed value of Class IV property at 3 percent per year following county-wide reappraisals.
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Tax assessor must compare the new assessed value to the prior year's assessed value and adjust downward if the increase exceeds 3 percent.
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Cap does not apply to property that changes ownership.
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Becomes effective October 1, 2024.
Legislative Description
Relating to Property Tax; Real Property Tax Assessment for motor vehicles
Taxation & Revenue
Last Action
Pending Senate Finance and Taxation General Fund
2/6/2024
Committee Referrals
Finance and Taxation General Fund2/6/2024
Full Bill Text
No bill text available