Existing law, does not provide for periodic reappraisal of all property in Alabama for the purpose of assessing ad valorem taxes. This bill would require that Class II and Class III real property in Alabama be reappraised no more than every three years. This bill would also provide that an increase in value over the previous assessment would be phased in over the subsequent three years.

Statutes affected:
Introduced: 40-7-63, 40-7-63