Transfer Of TitleTaxesHARD
Alabama property is assessed at what percentage of fair market value?
Correct Answer
B) 10% for owner-occupied residential
Alabama assesses owner-occupied residential property at 10% of fair market value.
Answer Options
A
100%B
10% for owner-occupied residentialC
50%D
75%Audio Lesson3 min
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Related Topics & Key Terms
Related Topics:
property-tax-calculationassessment-ratios-by-statehomestead-exemption
Key Terms:
assessment ratiofair market valueAlabama property taxClass III propertyowner-occupied residential
Related Concepts
Many states have laws to limit how much property taxes can increase each year, regardless of market value fluctuations.
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