Lake Martin Topics: Taxes

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	Name:	8handicap -
	Subject:	Taxes
	Date:	10/13/2004 12:19:48 PM

I believe the folloing information is correct:

Assessment percentages are determined by state statute. Residential property is assessed at 10% of fair market value. All other property is assessed at 20%. If a residential property is used for rental purposes it is then assessed at 20%. Vacant lots are not residential property and are assessed at 20%. If you own a home that is not your primary residence, the county will usually assess it at 20%, under the assumption it is rental property. You must contact the assessor to state that the home is a second home that is not rented. They will then reduce the assessment to 10%.

State, county and city taxes are for the fiscal year 10/1 - 9/30. Taxes are due by 12/31. State and county taxes are paid in arrears and some larger cities in AL are paid in advance (Birmingham for instance).

Hope this helps.

8

Other messages in this thread:

View Entire Thread

Taxes - Council Roc Doc - 10/12/2004 12:26:52 PM

Taxes - Council Roc Doc - 10/12/2004 12:36:53 PM

Taxes - roswellric - 10/12/2004 10:18:20 PM

Taxes - Council Roc Doc - 10/13/2004 8:57:14 AM

Taxes - 4Golf - 10/12/2004 10:22:42 PM

Taxes - 8handicap - 10/13/2004 12:19:48 PM

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