(a) The City Commission of Florence, Alabama, shall waive city taxes on annexed farm property, so that the residential dwelling on the property and one acre of land shall be taxed at the regular city tax rates, but the remainder of the land used as farm and agricultural property shall be exempt from city taxes.

Terms Used In Alabama Code 45-39A-14

  • preceding: means next before. See Alabama Code 1-1-1
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(b) If and when the land is sold for, or is used for, non-agricultural purposes, then city taxes for the three years preceding the sale shall be assessed against the property to be paid by the purchasers, or by the owner in the case of change in use of the property.
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