The proposed bill seeks to amend the Constitution of Alabama of 2022 specifically for Lamar County, allowing qualified taxpayers aged 65 and older to claim a senior property tax exemption on their real property. This exemption applies to single-family owner-occupied residential properties that have been the principal residence of the individual for at least five years prior to the tax year in which the exemption is claimed. The assessed value of the property will be frozen at the amount from the year before the exemption is claimed, and the exemption can be claimed starting October 1, 2027.

Additionally, the bill outlines several conditions for maintaining the exemption, including the requirement that the property continues to be the taxpayer's principal residence, the ability to claim other exemptions, and the property remaining subject to any millage rate changes. The assessed value of any additions made to the property after claiming the exemption will be subject to ad valorem tax based on the increase in value. The bill also includes provisions for the election process to ratify this amendment, which will be presented to voters with a ballot description and options for approval.