Property (Ad Valorem) Taxes on Real and/or Business Personal Property. "Ad Valorem" means "according to value". Real Property includes land and improvements (buildings). Business Personal Property refers to furniture, fixtures, tools, and equipment used in the operation of a business. It also includes airplanes and corporation shares of stock.
The County Appraiser is responsible for determining property value which must, by law, be set according to "fair and reasonable market value." Your property is probably not for sale, but the local appraiser must determine the value of the property as if it were "sold" in an "arm's length" transaction between a "knowledgeable and will seller," neither being under any pressure to buy or sell.
WHEN YOU BUY PROPERTY
Step 1. Record your deed in the Probate Office. Many new property owners often rely on the title company, real estate agent, or other representative to properly record their deed and assess their property. However, the final responsibility is still yours, as the owner, to see that all the necessary steps have been taken.
Step 2. File an assessment return with the County Revenue Commissioner. Present your recorded deed for assistance in completing your assessment return. This can be done in Dadeville or by mail. Do this promptly after recording your deed. DO NOT WAIT until October 1 - December 31 to file your assessment return. Any return filed January 1 - September 30 will take effect the following year. Failure to file an assessment return with the County Revenue Commissioner automatically generates a statutory penalty. Claim any exemption(s) due you at the same time you file your assessment return. If you are permanently and totally disabled, or if you are 65 or older and your primary residence is in Tallapoosa County, please contact The County Revenue Commissioner's office for information regarding additional homestead exemption entitlement.
Step 3. Check with the collections office to make sure taxes are current. On real property (land and improvements) the buyer can be held liable for any unpaid taxes - even for years before he/she bought the property. The buyer is liable for the entire year's taxes, even if that person bought the property during the year and taxes were prorated with the seller at the time of closing. Your are responsible for taxes on all property you own, regardless of how the tax bill may be listed.
Step 4. Mail a copy of the assessment return to your mortgage company if it has agreed to pay your taxes.
Step 5. Report any change of address or ownership promptly to the County Revenue Commissioner's Office. Tax bills are usually mailed to the address on record in the County.
Step 6. Property taxes are due October 1 of each year and become delinquent January 1. Make payment of tax bill to the Revenue Commissioner's Office.
TALLAPOOSA COUNTY MILLAGE RATES
| State Gen. Fund | 2.5 Mils | Co. Gen. Fund | 5.5 Mils | School District | 3.0 Mils |
| State Soldier Fund | 1.0 Mils | Co. Rd & Bridge Fund | 3.0 Mils | Sp. School District | 7.5 Mils |
| State School Fund | 3.0 Mils | County Wide School | 4.5 Mils | ||
| Total State | 6.5 Mils | Total County | 13.0 Mils | Total District | 10.5 Mils |
| Alexander City 15.0 Mils | Dadeville 5.0 Mils | Camp Hill 5.0 Mils |
Total Tax Levy (Millage) for Districts in Tallapoosa County
| Alexander City | 37.5 Mils | Carrville | 30.0 Mils | ||
| Dadeville | 35.0 Mils | Tallassee | 22.5 Mils | District (1) | 30.0 Mils |
| Camp Hill | 35.0 Mils | District 25-A | 30.0 Mils |
Calculating Your Tax
The Alabama Legislature has established Property Assessment Ratios as follows:
| Class of Property | Type of Property | Classification % (Assess. Ratio) |
| Class I | Utilities | 30% |
| Class II | All other property | 20% |
| Class III | Farm, Forest & Owner Occupied Residential Property | 10% |
| Class IV | Motor vehicles | 15% |
General Formula
Fair Market Value X Classification Percentage = Assessed Value x Tax Levy = Gross Tax - Homestead Exemption = Net Tax
The Formula above does not apply to farm or forest lands receiving benefit of "current use" values. The maximum homestead exemption is $43.00.
This information was taken from Tax Facts a brochure prepared by the Tallapoosa County Revenue Commissioner's Office. Please contact them at 256/825-7831 or 256/825-7818 for further information.
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CENTURY 21 Amy Banks Realty,
Inc.
440 N. Broadnax Street
Dadeville, Alabama 36853
Phone: 256/825-4800 Fax 256/825-0010
e-mail: amy@amybanks.com