Persons and property generally.
Code of Alabama, 1975, Section 40-9-1

The following property and persons shall be exempt from ad valorem taxation and none other:  (1) All bonds of the United States and this State and all county and municipal bonds issued by counties and municipalities in this state, all property, real and persona, of the United States and this state and of county and municipal corporations in this state; all cemeteries, all property, real and personal, used exclusively for religious worship, for schools or for purposes purely charitable; provided, that the property, real or personal, owned by any educational, religious or charitable institution, society or corporation let for rent or hire or for use for business purposes shall not be exempt from taxation, notwithstanding that the income from such property shall be used exclusively for education, religious or charitable purposes; all mortgages, together with the notes, debts and credits secured thereby on real and personal property situated in this state, which mortgages have been filed for record and the privilege tax paid thereon; all security agreements and security interests under the Uniform Commercial Code, together with the notes, debts and credits secured thereby; all money on deposit in any bank or banking institution and all other solvent credits; all warrants issued by county boards of education and city boards of education for the purpose of erecting, repairing, furnishing school buildings or for other school purposes

Click here for an Application for Property Tax Exemption Based on Use-Charitable-Educational or Religious.