Under 65 Years of Age Homestead Exemption with Local Option

State

Alabama

Year

2015

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Exemption

Benefit

Individuals under 65 years of age are exempt from up to $4,000 in assessed value of state ad valorem taxes and up to $2,000 in assessed value for the county-wide or district ad valorem local exemption taxes for school purposes. At the local option, they may increase the exemption not to exceed $4,000 in assessed value.

How is Benefit Disbursed

Exemption from assessed value

Eligible Property Type

Residential

Characteristics of Eligible Property

Up to 160 acres of residential property is eligible.

Eligibility Criteria

Age

Homeowner

Description of Eligibility Criteria

Individual must be not be over 65 years of age and must be owner and permanent resident.

Local Option in Adoption of Program

Local government must take action to opt in

Local Option Regarding Program Features

Local option regarding program features

State Funding for Local Tax Loss

State and local government share the local tax loss

Description of State Funding for Tax Loss

The state covers the cost of the exemption from state property taxes.

Record ID

AL103_RR15

Footnotes

Sources

Ala. Code § 40-9-19 (a) ~ (c) (in effect for 2015)
Alabama Homestead Comparison Chart (May 2013) [http://revenue.alabama.gov/advalorem/homesteads.cfm Accessed on 03/10/2016] View Archived Source

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