Until the ADA is updated to address the special case of website accessibility, or the Department of Justice releases its website accessibility regulations, complying with WCAG 2.0 Level AA is the best way to ensure that people with disabilities have equal access to your website. The overview below is a great starting point about meeting the WCAG 2.0 Level AA recommendations.
The prudent next step is running an audit on your site. The tools will crawl your site and identify all the areas that do not meet web accessibility standards for ADA compliance. The results will give you a very clear sense of the work involved so you can budget properly and weigh the benefits. Who knows, you may find out that your site is already fairly compliant, especially if you are on a fairly progressive platform and have used proper coding practices during your site build.
The words in the tag should be more than a description. They should provide a text equivalent of the image. In other words, the tag should include the same meaningful information that other users obtain by looking at the image. In the example of the mayor’s picture, adding an “alt” tag with the words “Photograph of Mayor Jane Smith” provides a meaningful description.
Talk to your web designer about other techniques that will make your site more user-friendly for people with disabilities. Worried that’s not in your budget? Consider the fact that DOJ fines start at $75,000. And it's still yet to be determined if a non-compliant website is liable for one fine or will be charge per page for each violation. As the recent lawsuits illustrate, though, settlements quickly add up into the millions.