Property Class III
Class III Assessment Rate & Scope
Class III property is assessed at 10% of its market value and includes agricultural, forest, residential, and qualifying historic property. Residential property generally includes single-family, owner-occupied residential property.
Agricultural & Forest Definition
Agricultural and forest property is defined by Section 40-8-1(3) of the Code of Alabama 1975 and includes real property used for activities such as raising, harvesting, and selling crops, as well as feeding, breeding, managing, raising, and selling livestock.
Qualification Requirements
Property must meet the requirements established by Alabama law to qualify for the Class III classification.