Each county governing body of this state, through its respective tax assessor, shall have the property of such county appraised at its fair and reasonable market value, which fair and reasonable market value shall be the basis of assessments for ad valorem taxes.
Ala. Code § 40-7-62
Property Appraised at Fair and Reasonable Market Value; Basis of Assessment for Ad Valorem Taxes.
(Acts 1971, 3rd Ex
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.