If the recording privilege tax imposed by Sections 40-22-6 through 40-22-11 of this title or by Section 40-22-2 is paid, the debt secured by the instrument so transferred shall thereafter be exempt from any ad valorem tax, either state, county, or municipal.
Ala. Code § 40-22-9
Tax Upon Recording Transfer of Instrument Recorded by Exempt Institution - Debt Secured by Instrument so Transferred Exempt from Ad Valorem Taxes.
(Acts 1951, No. 816, p. 1449, §4.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.