ASSESSMENT & APPRAISAL INFORMATION
Property Taxes
Property (ad valorem) taxes are taxes on real and/or personal property. Real property includes land and improvements including your home. Personal property refers to items which are movable or not permanently fixed to the land.
The Revenue Commissioner is responsible to determine property value which by law must be set at the "fair and reasonable market value." Even though your property may not be for sale, the local appraiser must set the value of the property as if it were "sold" in an "arms length" transaction between a "willing buyer and a willing seller," neither being under any pressure to buy or sell.
Property Appraisal
Marshall County has approximately 64,000 separate parcels of land that must be individually appraised for tax purposes. Each parcel of land must be described on a property record card. Characteristics of land and buildings are listed and valued separately and become the basis for establishing fair market value. This information is found in the Revenue Commissioner's Office.
Assessment of Property
Each taxpayer is required by Alabama Law (Code Ş40-7-1) to provide a complete list of all property which is owned. The person acquiring property is responsible for reporting to the Revenue Commissioner a complete legal description of the property and should at that time claim any exemptions for which he and/or she is eligible. The Revenue Commissioner should be furnished a correct mailing address for all properties. Thereafter, the property owner must report any changes in ownership and any improvements or deletions to the Revenue Commissioner.
Property Classification
The Revenue Commissioner is responsible to assess and collect property taxes. In the preceding section you were informed that property is appraised at "fair market value." In Alabama, property is classified as:
You multiply the appraised value of property by the proper classification to determine the assessed value. Taxes are based on assessed value, less exemption, times a millage rate. A mill is one-tenth of one cent or 0.001
Tax Collection
State and county taxes are due every year the first of October and are delinquent after the 31st of December.
Payment may be made as follows:
- You may pay by mail by mailing a check or money order to: Marshall County Revenue Commissioner.
- You may go to the Revenue Commissioner’s Office on the first floor of the Marshall County Courthouse and make payment in person.
- Have your taxes paid by your mortgage company escrow account (if applicable).
If you purchased property during the year, you need to make sure the taxes are paid by December 31. The tax bill will normally be in the previous owner’s name. You are responsible for taxes on all property you own, no matter how the tax bill may be listed.
What to do when you buy property
New property owners should not rely on their attorney, real estate agent, or other representative to assess their property. This is your responsibility, as the new owner, to see that all the necessary steps have been completed. The steps are:
- Make sure that your deed is recorded in the Record Room of the Probate Office. This has usually been done by your attorney, if one represented you at closing. If you received your deed at and time stamped by the probate Judge’s Office it will have a Real Property Book and page on its front page.
- Come to the Revenue Commissioner’s Office and assess the property in your name.
- Claim any exemptions due you.
- If you have an escrow account with your mortgage company that pays your property taxes, they will request the tax information from the Revenue Commissioner. However, should you receive a bill on property which your mortgage company should pay, please forward it directly to them.
- Report all changes in ownership and/or address promptly.
Exemptions (Homestead apply to Owner-occupied dwelling)
Homestead Exemption I is for owner occupied residential property owned by persons under age 65 and applies to state and county property taxes and is described as Class III property. The amount is $4,000 for the state tax and $2,000 for county taxes.
Homestead Exemption II is for owner occupied residential property owned by persons over age 65, or who are blind or totally disabled, whose adjusted gross income is less than $12,000 annually. The exemption is for all state taxes and county taxes up to $5,000 in assessed value.
Homestead Exemption III is for persons over age 65 or blind or totally disabled.
Current use value is an exemption which applies to Class III property. Upon application, if the property meets conditions set by law, property is taxed based on value to the owner without consideration of the potential value of the property. Ask you Revenue Commissioner if you desire further information about current use.
Industrial exemptions are also available. To qualify the owner of a property must file with the Revenue Commissioner a decree from the Commissioner of Revenue and a resolution of the County Commission. This exemption does not apply to the school taxes or hospital tax.
MARSHALL COUNTY MILLAGE RATES
