27-37-7
Section 27-37-7 Valuation - Real property and personal property acquired pursuant to chattel
mortgages. (a) Real property acquired pursuant to a mortgage loan or contract for sale, in
the absence of a recent appraisal deemed by the commissioner to be reliable, shall not be
valued at an amount greater than the unpaid principal of the defaulted loan or contract at
the date of such acquisition, together with any taxes and expenses paid or incurred in connection
with such acquisition, and the cost of improvements thereafter made by the insurer and any
amounts thereafter paid by the insurer on assessments levied for improvements in connection
with the property. (b) Other real property held by an insurer shall not be valued at an amount
in excess of fair value as determined by recent appraisal. If valuation is based on an appraisal
more than three years old, the commissioner may at his discretion call for and require a new
appraisal in order to determine fair value. (c) Personal property...
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27-4A-3
Section 27-4A-3 Generally. (a) Subject to the exceptions and exemptions hereinafter set forth,
for the year beginning on January 1, 1995, and for each year thereafter, every insurer shall
pay to the commissioner a premium tax equal to the percentage, as set out in this subsection,
of the premiums received by the insurer for business done in this state, whether the same
was actually received by the insurer in this state or elsewhere: (1) PREMIUM TAX ON LIFE INSURANCE
PREMIUMS. a. Except as hereinafter provided, the rates of taxation on life insurance premiums
shall be those amounts set out in the following schedule: Year Foreign Insurers Domestic Insurers
1995 2.9 1.3 1996 2.8 1.6 1997 2.7 1.8 1998 2.5 2.1 Every Year Thereafter 2.3 2.3 b. Individual
life insurance policies in a face amount of greater than $5,000 and up to and including $25,000,
excluding group life insurance policies, shall be taxed at the rate of one percent per annum.
c. Individual life insurance policies in a face...
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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...
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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...
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5-19-4
Section 5-19-4 Additional charges for default or deferral; prepayment; renewal or refinancing;
real property transactions. (a) When a scheduled payment in a consumer credit transaction
is in default 10 days or more, the creditor may charge and collect a late charge not exceeding
the greater of eighteen dollars ($18) or five percent of the amount of the scheduled payment
in default, not to exceed one hundred dollars ($100). The late charge may be collected only
once on any scheduled payment, regardless of the period during which the scheduled payment
remains in default. (b) With respect to the deferral of one or more wholly unpaid scheduled
payments in a consumer credit transaction, in which the finance charge was determined by the
precomputed method, the creditor may collect, by agreement with the debtor either before or
after default, an additional charge for each full month that any wholly unpaid scheduled payments
are outstanding after the due date of each scheduled payment equal to...
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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...
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40-12-253
Section 40-12-253 Ad valorem taxation of motor vehicles. (a) Effective January 1, 2000, ad
valorem taxes on motor vehicles shall be assessed and the tax collected forward on a current
basis to coincide with the collection of motor vehicle license taxes and registration fees.
(1) Ad valorem taxes on motor vehicles shall become due and payable on the first day of the
registration renewal month of the owner, the date the motor vehicle enters the State of Alabama,
the date the motor vehicle is removed from the inventory of a dealer, or the date on which
the motor vehicle is otherwise determined to be taxable, whichever comes first. Ad valorem
taxes on motor vehicles shall become delinquent on the first day of the month following the
registration renewal month for the owner or as otherwise provided by law. (2) Ad valorem tax
on motor vehicles shall be collected through the last day of the month which precedes the
assigned registration renewal month for the owner as provided in Section...
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27-37-9
Section 27-37-9 Valuation - Purchase money mortgages. Purchase money mortgages on real property
shall be valued in an amount not exceeding the acquisition cost of the real property covered
thereby or the unpaid balance of the debt secured by such mortgage, whichever is less. (Acts
1971, No. 407, p. 707, §753.)...
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45-41-72.50
Section 45-41-72.50 Personnel; costs. (a)(1) The Lee County Commission shall employ sufficient
appraisers, mappers, and clerical personnel to maintain on a current basis the appraisal and
mapping of all real property and valuation of personal property within Lee County. (2) The
cost of the maintenance program for the continued equalization of ad valorem taxes shall be
prorated by the Lee County Commission to each agency receiving ad valorem tax from property
in Lee County on the basis of the appropriation of the monies received by each agency in Lee
County to the total amount received by all agencies in Lee County. It is the intent of this
section that all cost necessary for the ad valorem maintenance program be prorated among all
agencies receiving ad valorem tax funds in Lee County. (b) The State Commissioner of Revenue
shall prescribe the functions, duties, and responsibilities of these personnel to insure all
property is properly appraised, mapped, and valued in accordance with the...
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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...
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