Interest Rates
Act 2017-415, effective August 1, 2017, amends §11-3-11.3 and §11-51-208, removing the option for counties and municipalities to charge interest at the rate of one percent (1%) per month. The applicable interest rate to be charged by or due from the county/municipality shall be determined pursuant to §40-1-44, which links interest to the underpayment rate established quarterly by the United States Secretary of the Treasury under the authority of 26 U.S.C. §6621. The current annual interest rate of 5% is valid through September 30th, 2019. Interest rate history can be found at http://revenue.alabama.gov/assessments/quarterly-interest-rates

The act also amends §11-51-194 regarding delivery licenses and issuance fees. 

Act 2017-415