Property Tax Exemptions - The Civic Federation

etc.; maximum amount of ad valorem tax; certain property to be assessed atcurrent use value and not market value; exemption of certain property from advalorem taxation; interpretation of authority for counties, municipalities,etc., to levy taxes, borrow money, etc., in relation to assessment ofproperty; counties, municipalities, etc., authorized to levy additional advalorem tax for costs of certain state-wide reappraisal of property.(g) The legislature is authorized to enact legislation to implement theprovisions of this section and may provide for exemptions from taxation;provided, that unless otherwise expressly provided, no amendment to thissection shall be construed to repeal any statutory exemption existing on theeffective date of any such amendment hereto.(k) The following property shall be exempt from all ad valorem taxation: thereal and personal property of the state, counties and municipalities andproperty devoted exclusively to religious, educational or charitable purposes,household and kitchen furniture, all farm tractors, all farming implements whenused exclusively in connection with agricultural property and all stocks ofgoods, wares and merchandise.AL CONST Art. XII, s 229Sec. 229. Special laws conferring corporate powers prohibited; general lawas to grant or amendment of corporate charters; corporation franchise taxesto be paid; exemption of benevolent, educational or religious corporationsfrom franchise taxes.The legislature shall pass no special act conferring corporate powers, but itshall pass general laws under which corporations may be organized and corporatepowers obtained, subject, nevertheless, to repeal at the will of thelegislature; and shall pass general laws under which charters may be alteredor amended. The legislature shall, by general law, provide for the payment tothe State of Alabama of a franchise tax by corporations organized under thelaws of this state, which shall be in proportion to the amount of capitalstock; but strictly benevolent, educational, or religious corporations shallnot be required to pay such a tax. The charter of any corporation shall besubject to amendment, alteration, or repeal under general laws.AL ST s 40-9-1. Persons and property generally.The following property and persons shall be exempt from ad valorem taxationand none other:(1) All bonds of the United States and this state and all county andmunicipal bonds issued by counties and municipalities in this state, allproperty, real and personal, of the United States and this state and of countyand municipal corporations in this state; all cemeteries, all property, realand personal, used exclusively for religious worship, for schools or forpurposes purely charitable; provided, that property, real or personal, ownedby any educational, religious or charitable institution, society orcorporation let for rent or hire or for use for business purposes shall not beexempt from taxation, notwithstanding that the income from such property shall6