2016 Code of Alabama
Title 40 - REVENUE AND TAXATION.
Chapter 9 - EXEMPTIONS FROM TAXATION AND LICENSES.
Article 1 - General Provisions.
Section 40-9-14 - Property used for public purposes.
Lands in the purchase of which any municipality of the state has invested money pursuant to the terms of a lease sale contract or option agreement shall, during the life of such lease sale contract or option agreement, be exempt from ad valorem taxation so long as said lands are being used by such municipalities for park, municipal or other public purpose, or where the same are contracted for and in the possession of such municipalities with the bona fide intention of being so used.
(Acts 1927, No. 121, p. 85; Code 1940, T. 51, §13.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
