40-7-15
Section 40-7-15 Property to be appraised at fair market value. Except as otherwise provided by law, for the purpose of assessment, real and personal property shall be appraised at its fair and reasonable market value, according to the best judgment the assessor, the board of equalization, and agents of the Department of Revenue can form upon information, inspection, or otherwise, taking into consideration all elements or factors bearing on such value as heretofore or hereafter authorized; mineral, coal, oil, gas, timber, and turpentine interests, when they have been severed in ownership from the soil, by sale or otherwise, shall be separately appraised and assessed. Notwithstanding the above, all property under lease as of October 1, 1978, which lease does not provide for a direct passthrough of property taxes to the lessee, shall be appraised solely on the basis of the economic net return to the owner. (Acts 1935, No. 194, p. 256; Code 1940, T. 51, ยง46; Acts 1978, 2nd Ex. Sess., No....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-15.htm - 1K - Match Info - Similar pages
45-41-141
Section 45-41-141 Definitions. (a) The following words and phrases used in this part, and others evidently intended as the equivalent thereof, in the absence of clear implication herein otherwise, shall be given the following respective interpretations herein: (1) AMENDMENT 392. That certain amendment to the Constitution of Alabama of 1901, as amended, proposed by Act 80-313 enacted at the 1980 Regular Session of the Legislature. (2) AUTHORIZING AMENDMENT. That certain amendment to the Constitution of Alabama of 1901, as amended, proposed by Act 88-479 enacted at the 1988 Regular Session of the Legislature. (3) CODE. The Code of Alabama 1975, as amended. (4) COMMERCIAL BUILDING. Any building, structure, or other improvement to real property, excluding, however, any dwelling that: a. Is subject to ad valorem taxation and has a fair market value, according to the records of the tax assessor pertaining to state and county ad valorem taxation for the fiscal or ad valorem tax year of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-41-141.htm - 8K - Match Info - Similar pages
40-7-25.1
Section 40-7-25.1 Current use value of Class III property - Definition; appraisal of property at request of owner; legislative intent; applicability of section; method of valuation; factors considered in appraisal; rules and regulations of Department of Revenue; hearing objections. (a) For ad valorem tax years beginning on and after October 1, 1978, with respect to taxable property defined in Section 40-8-1, as amended, as Class III property and upon request by the owner of such property as hereinafter provided, the assessor shall base his appraisal of the value of such property on its current use on October 1 in any taxable year and not on its fair and reasonable market value. Failure of an owner of Class III property to request appraisal at current use value shall mean that the property shall be valued on its fair and reasonable market value as otherwise provided in this title until such time as the owner thereof shall request valuation on the basis of current use value. As used in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-25.1.htm - 24K - Match Info - Similar pages
18-1A-22
Section 18-1A-22 Offer to purchase at full appraised value; amount of compensation; written statement and summary; waiver valuation. (a)(1) Before commencing a condemnation action, the condemnor shall establish an amount based on an appraisal, except as otherwise provided in subsection (e), which it believes to be just compensation therefor and promptly shall submit to the owner an offer to acquire the property for the full amount so established. (2) The amount may not be less than the condemnor's established amount of just compensation for the property. (b) In a total taking, the condemnor shall disregard any decrease or increase in the fair market value of the property caused by the project for which the property is to be acquired or by the reasonable likelihood that the property will be acquired for that project, other than normal depreciation. (c)(1) The amount of compensation to which the owners and other parties interested therein are entitled may not be reduced or diminished...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/18-1A-22.htm - 3K - Match Info - Similar pages
18-4-14
Section 18-4-14 Procedure for acquiring real property. Whenever real property is acquired by a state agency in connection with any programs or projects, the acquisition shall be conducted, to the greatest extent practicable, in accordance with the following: (1) An agency shall make every reasonable effort to acquire, expeditiously, real property by negotiation. (2) Real property shall be appraised before the initiation of negotiations, and the owner or his or her designated representative shall be given an opportunity to accompany the appraiser during his or her inspection of the property. (3) Before the initiation of negotiations for real property, the state agency concerned shall establish an amount which it believes to be just compensation for the property and shall make a prompt offer to acquire the property for the full amount established. In no event shall the amount be less than the approved appraisal of the fair market value of the property by the agency. Any decrease or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/18-4-14.htm - 3K - Match Info - Similar pages
40-8-1
Section 40-8-1 Classification of property; assessment rate. (a) On and after October 1, 1978, with respect to ad valorem taxes levied by the state, and, unless otherwise provided, with respect to ad valorem taxes levied by a county, municipality, or other taxing authority other than the state, all taxable property shall be divided into the following classes and no other and shall be assessed for ad valorem tax purposes at the following ratios of assessed value to the fair and reasonable market value of such property, or, as may be provided by law, to the current use value of such property: CLASS I. All property of utilities used in the business of such utilities, 30 percent. CLASS II. All property not otherwise classified, 20 percent. CLASS III. All agricultural, forest, and residential property, and historic buildings and sites, 10 percent. CLASS IV. All private passenger automobiles and motor trucks of the type commonly known as "pickups" or "pickup trucks" owned and operated by an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-8-1.htm - 9K - Match Info - Similar pages
37-16-7
Section 37-16-7 Civil action by owner of interest in real property subject to easement; damages; condemnation; receipt of rights by grant or agreement; motice of installation; liability. (a) If the owner of an interest in real property subject to an electric easement contends that the owner's property has been taken, injured, or destroyed by the construction, installation, use, or enlargement of broadband systems within the electric easement on the owner's property and the electric easement does not expressly provide for such, the owner may file a civil action in the circuit court for the county in which the property is located to recover damages as specified by this section. All such actions must be brought within three years after the later of: (1) August 1, 2019; or (2) the date broadband systems are first constructed or installed within the electric easement on the owner's real property. Nothing in this chapter shall revive any right or remedy which may have become barred by lapse...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-16-7.htm - 6K - Match Info - Similar pages
40-3-19
Section 40-3-19 Meetings - Hearing objections to valuations. For the purpose of hearing objections filed in writing to any assessments or valuations fixed as provided for herein, the boards of equalization shall sit at the courthouse in their respective counties on the date specified by the Department of Revenue in each year, and shall continue as long as may be necessary; provided, that the sitting shall not be extended beyond the second Monday in July, unless otherwise ordered by the Department of Revenue, to dispose of all cases where objections to valuations or assessments have been filed in writing by any taxpayer, as provided in this chapter. For the purpose of hearing objections filed in writing to any assessments or valuations fixed as provided for herein, in counties where the board of equalization serves full time, the boards of equalization shall sit at the courthouse in their respective counties, beginning on the date specified by the Department of Revenue, to dispose of...
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40-7-25.2
Section 40-7-25.2 Current use value of Class III property - Qualification procedure; appeal from denial of application; new owner required to reapply upon sale of property. (a) Any owner of eligible taxable property described in Section 40-7-25.1 may apply to have such property assessed for purposes of ad valorem taxation at the appropriate ratio of assessed value to the current use value of such property by filing a written application, in form as prescribed by the Department of Revenue, with the tax assessor of the county in which such property is located, on and after October 1 but not later than January 1 in any taxable year; provided, however, that with respect to assessments of eligible taxable property respecting the taxable year that began on October 1, 1981, such applications may be filed with the tax assessor not later than June 30, 1982. (b) The application form for qualification of real property as agricultural property shall set forth a description of the real property, a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-25.2.htm - 3K - Match Info - Similar pages
40-2-11
Section 40-2-11 Powers and duties generally. It shall be the duty of the Department of Revenue, and it shall have the power and authority, in addition to the authority now in it vested by law: (1) To have and exercise general and complete supervision and control of the valuation, equalization, and assessment of property, privilege, or franchise and of the collection of all property, privilege, license, excise, intangible, franchise, or other taxes for the state and counties, and of the enforcement of the tax laws of the state, and of the several county tax assessors and county tax collectors, probate judges, and each and every state and county official, board, or commission charged with any duty in the enforcement of tax laws, to the end that all taxable property in the state shall be assessed and taxes shall be imposed and collected thereon in compliance with the law and that all assessments on property, privileges, intangibles, and franchises in the state shall be made in exact...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-2-11.htm - 11K - Match Info - Similar pages
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