Ala. Admin. Code r. 490-X-1-.01

Current through Register Vol. 43, No. 1, October 31, 2024

Section 490-X-1-.01 - General Information And Definitions

(1) Purpose: It is the intent of the Legislature and the purpose of the Alabama Land Bank Authority to acquire and dispose of tax delinquent properties in order to rehabilitate and effectively utilize land which is nonrevenue-generating, nontax-producing and provide housing, new industry, commercial and economic development, and remove blight.

(2) The public may obtain information about the Authority by contacting the Alabama Land Bank Authority, c/o the Alabama Department of Revenue, at (334) 242-1539. Submissions to the Authority should be mailed to the Authority c/o the Alabama Department of Revenue, 50 N. Ripley Street, Montgomery, Alabama 36130. Requests for public records should be directed to the Authority via the contact information provided herein.

(3) Definitions: As used in these rules, the following words shall include, but are not limited to, the following meanings unless the context clearly requires a different meaning:

(a) Applicant: Any individual or entity seeking a conveyance of tax-delinquent property as defined herein.

(b) Authority: The Alabama Land Bank Authority Board

(c) Board: The Alabama Land Bank Authority Board

(d) Market Value: The stated value of the real property which is established by the appropriate county official responsible for assessing property in the jurisdiction in which the property is found.

(e) Property: Any real property subject to the Authority's jurisdiction.

(f) Tax-Delinquent Property: Any property on which the taxes levied and assessed by any party remain in whole or in part unpaid on the date due and payable. For the purposes of this Authority, only properties which have been bid into the state pursuant to Chapter 10 of Title 40 for at least five (5) years and the state's interest in real property acquired pursuant to Chapter 29 of Tile 40 for delinquent taxes administered by the state and held for at least five (5) years are available for conveyance to the Land Bank Authority and, subsequently, to any applicant.

(g) Transferee: Any individual or entity seeking a conveyance of tax-delinquent property as defined herein

Ala. Admin. Code r. 490-X-1-.01

Adopted by Alabama Administrative Monthly Volume XXXVII, Issue No. 03, December 28, 2018, eff. 1/24/2019.

Author: Susan Wilhelm

Statutory Authority:Code of Ala. 1975, §§ 24-9-2, 24-9-4, 24-9-6, 24-9-7.