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FISCAL NOTE
House Bill 73
Committee: Ways and Means General FundSponsor: Representative Phillip Pettus
Analyst: Riley Aaron Date: 03/06/2024
House Bill 73 as reported by the Committee on Ways and Means General Fund could decrease
potential future ad valorem tax reciepts collected on Class II and Class III property to the
following funds by the estimated annual amounts listed by capping the growth in the assessed
value of Class II and Class III properties by 5% each, of the assessed value of the previous year,
pursuant to the provisions of this bill. These estimates were based on the average annual growth
in assessed values for Class II and Class III properties between 2019 and 2022 (taxes collected
in Fiscal Years 2020 through 2023).
Source State CountySchoolMunicipalTotal
Ad Valorem
Tax
Public School Funds: $4.2M
$20.3M$19.6M$9.2M $58M
State General Fund: $3.5M
Veterans' Assistance Fund: $1.4M
Alabama Historical Commission:
$14k
Total: $9M