114397-1:n:08/20/2009:JRC/tj LRS2009-4022
| SYNOPSIS: | Under existing law, the Department of Revenue supervises and regulates the periodic reappraisal of all property in Alabama. |
| This bill would propose an amendment to the Constitution of Alabama of 1901, to provide that Class II and Class III real property in Alabama would not be subject to reappraisal more often than once every four years, provided that the level of equalization for a particular county falls between 90 percent and 105 percent with a coefficient of dispersion of no greater than 20 as determined by an annual sales ratio study conducted by the Department of Revenue. |
To propose an amendment to the Constitution of Alabama of 1901, to provide that Class II and Class III real property in Alabama would not be subject to reappraisal more often than once every four years, provided that the level of equalization for a particular county falls between 90 percent and 105 percent with a coefficient of dispersion of no greater than 20 as determined by an annual sales ratio study conducted by the Department of Revenue.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. The following amendment to the Constitution of Alabama of 1901, as amended, is proposed and shall become valid as a part thereof when approved by a majority of the qualified electors voting thereon and in accordance with Sections 284, 285, and 287 of the Constitution of Alabama of 1901, as amended:PROPOSED AMENDMENT
The county-by-county reappraisal of all Class II and Class III real property in the State of Alabama which is conducted and supervised by the Department of Revenue pursuant to Chapter 7 of Title 40, Code of Alabama 1975, shall not be conducted more often than once every four years, provided that the level of equalization for a particular county falls between 90 percent and 105 percent with a coefficient of dispersion of no greater than 20 as determined by an annual sales ratio study conducted by the Department of Revenue.
Section 2. An election upon the proposed amendment shall be held in accordance with Sections 284 and 285 of the Constitution of Alabama of 1901, now appearing as Sections 284 and 285 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, and the election laws of this state.
Section 3. The appropriate election official shall assign a ballot number for the proposed constitutional amendment on the election ballot and shall set forth the following description of the substance or subject matter of the proposed constitutional amendment:
"Proposing an amendment to the Constitution of Alabama of 1901, to provide that Class II and Class III real property would not be subject to reappraisal more often than once every four years, provided that the level of equalization for a particular county falls between 90 percent and 105 percent with a coefficient of dispersion of no greater than 20 as determined by an annual sales ratio study conducted by the Department of Revenue."
"Proposed by Act ________."
This description shall be followed by the following language:
"Yes ( ) No ( )."