Alabama Code 40-9-17. Property owned and used or held by colleges for certain purposes
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Terms Used In Alabama Code 40-9-17
- property: includes both real and personal property. See Alabama Code 1-1-1
All property owned and used by a college for the purpose of housing students, members of the faculty or other employees of the college is exempt from taxation.
All property owned by a college and held for the bona fide purpose of being used for enlargement of a campus or for the development of a new campus is exempt from taxation.