AL HB310

Proposes a constitutional amendment allowing Limestone County residents aged 65 or older to claim a senior property tax exemption that freezes the assessed value of their single-family, owner-occupied home at the prior year's level

Requires the property to have been the taxpayer's principal residence for at least five years before first claiming the exemption

Exemption continues as long as the taxpayer uses the property as their principal residence and remains compatible with homestead and other existing exemptions

Property remains subject to millage rate changes, and any additions to the property after claiming the exemption are taxed based on the increased assessed value

Exemption may be claimed beginning October 1, 2027, based on October 1, 2026 property values, with written applications due to the Limestone County Revenue Commissioner between October 1 and December 31