SB21 Alabama 2024 Session

Summary

Primary Sponsor

Sam GivhanSenator

Republican

Session

Regular Session 2024

Title

Relating to Property Tax; Real Property Tax Assessment for motor vehicles

Summary

SB21 would cap year-to-year increases in Class IV property assessments after county-wide reappraisals at no more than 3%, with an exception for ownership changes, starting October 1, 2024.

What This Bill Does

The bill creates a 3% cap on increases in the assessed value of Class IV property after each county-wide reappraisal. If the reappraised value is higher than the prior year, the assessor must adjust it to be no more than a 3% increase from the previous year. The cap does not apply if there is a change in ownership. The provision specifically applies to Class IV property and would become law on October 1, 2024.

Who It Affects

• Class IV property owners (likely motor vehicle owners) whose property is reappraised; their assessed values—and potentially their taxes—could rise no more than 3% year over year, unless ownership changes.
• County tax assessors and county tax offices who must apply and enforce the 3% cap on Class IV property assessments after reappraisals.

Key Provisions

• After each county-wide reappraisal, if Class IV property assessments increase from the prior year, the assessor must limit the increase to no more than 3% from the previous year's assessed value.
• The 3% cap does not apply to changes in ownership of the property.
• The provision is added as a new section to the Alabama Code and applies to Class IV property assessments.
• The act becomes effective October 1, 2024.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Taxation & Revenue