AL HB64

Proposes a constitutional amendment allowing Colbert County residents aged 65 or older to freeze the assessed value of their primary residence for ad valorem tax purposes

Qualifying property must be single-family owner-occupied residential property used as the individual's principal residence for at least five years prior to claiming the exemption

Exemption remains in effect as long as the taxpayer continues using the property as their principal residence; millage rate changes still apply

Any additions to the property after claiming the exemption will be assessed and taxed separately based on the increased value

Exemption may be claimed beginning October 1, 2027, and must be filed in writing with the Colbert County Revenue Commissioner between October 1 and December 31