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Real Property

Real property is defined by statute and is synonymous with Real Estate. Real property is the underlying land and improvements attached to the land, i.e. structures. This encompasses both residential and commercial property.

Purpose of Appraisals

The purpose of the tax appraisal is to value all property within Montgomery County at its fair and equitable value based on market sales within the county following the guidelines set forth by the requirements and standards of the State Department of Revenue using the guidelines and procedures of the Alabama Appraisal Manual.

Lien Date for Property Assessment

October 1st of the preceding calendar year.

Market Value

“Market Value” is defined as the most probable price, expressed in  terms of money, that a property would bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by any undue stimulus. i.e. foreclosure sales, cash sales.

Analysis of Market Value

Once the property appraiser has listed all building permits and reviewed all sales within the county, the appraisal office analyzes the assessments placed on all property against the sale prices  to determine ratios which are used to ascertain the uniformity of assessments placed on all properties for a given tax year. This procedure is done on a year to year basis to ensure consistency on all properties within Montgomery County as required by Title 40, Code of Alabama 1975.