The bill proposes an amendment to the Constitution of Alabama of 2022, specifically for Lauderdale County, to allow qualified taxpayers who are 65 years of age or older to claim a senior property tax exemption for their real property. This exemption is applicable under certain conditions, such as the property being owned by the person, classified as single-family owner-occupied residential property, and used as the principal place of residence for not less than five years immediately prior to the tax year in which the exemption is first claimed. The exemption would freeze the assessed value of the property for the year immediately prior to claiming the exemption.

The bill outlines several provisions for those claiming the senior property tax exemption: the taxpayer will continue to receive the exemption as long as the property remains their principal residence, they will remain eligible for other exemptions such as the homestead exemption, the property will still be subject to millage rate changes, and any additions to the property after claiming the exemption will be assessed and taxed accordingly. The exemption can be claimed starting October 1, 2025, for the 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. The bill also includes instructions for the Code Commissioner to incorporate the amendment into the constitution and details the process for an election on the proposed amendment, including the ballot number assignment and the description of the amendment for voters. The bill notes that the Senate passed the act on April 30, 2024.