Alabama § 40-8-5 Credit Against Tax Liability for Certain Taxpayers Whose Property Has Been Reassessed

Alabama Statutes

§ 40-8-5 — Credit Against Tax Liability for Certain Taxpayers Whose Property Has Been Reassessed

Alabama·Title 40 Revenue and Taxation·Ch. 8 Rate of Taxation

Each taxpayer who was assessed and who paid a higher amount of state, county, or municipal ad valorem tax as a result of the completion of a countywide property reappraisal, and the implementation of the newly appraised property values as the tax base in that county, between October 1, 1975, and November 7, 1978, shall be entitled to a credit against his tax liability arising under the same tax or taxes, in the amount of the increase which resulted from said reappraisal, to be used during such tax year or years as the taxpayer elects until the credit is exhausted.

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Each taxpayer who was assessed and who paid a higher amount of state, county, or municipal ad valorem tax as a result of the completion of a countywide property reappraisal, and the implementation of the newly appraised property values as the tax base in that county, between October 1, 1975, and November 7, 1978, shall be entitled to a credit against his tax liability arising under the same tax or taxes, in the amount of the increase which resulted from said reappraisal, to be used during such tax year or years as the taxpayer elects until the credit is exhausted.

Alabama § 40-8-5 (Credit Against Tax Liability for Certain Taxpayers Whose Property Has Been Reassessed) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.