Title 40 — Title 40
0 chapters · 2,056 sections in this title.
Ala. Code § 40-9E-1 Definitions
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For purposes of this chapter only, the following terms shall have the following meanings: (1) BASE YEAR. The taxable year immediately before the taxable year in which property first becomes qualified property under this chapter. (2) BASE YEAR VALUE. The value of the property used…
Ala. Code § 40-9E-2 Abatement of State Property Taxes
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(a) Notwithstanding any other law of this state, qualified property shall be entitled to an abatement of state property taxes provided the conditions of this section are satisfied. (b) In lieu of paying the state property tax increment on qualified property, any owner of qualifie…