Property assessment is based on the appraised Fair Market Value determined by this office. Each property is appraised according to information based on area sales, value associated with improvements located on the property and other guidelines set forth by the Alabama Department of Revenue.
After a Fair Market Value is established, the assessed value is determined. Assessed value is determined by your propertys classification and usage as of October 1 of each year.
Class I Includes all Utility properties, 30% of the Fair Market Value of this property will be taxed.
Class II Rental or any property that is not occupied by the owner. 20% of the Fair Market Value of the property is taxed.
Class III Owner occupied single family properties. 10% of the Fair Market Value is taxed.
example : The assessed value or the amount subject to property tax on a single family home owned and occupied by the owner with a fair market value of $100,000.00 would be $10,000 .