As I mentioned above, under each WCAG 2.1 principle is a list of guidelines, and under each guideline are compliance standards, with techniques and failure examples at each level. Some guidelines include only Level A items; others include items for multiple levels of conformance, building from A to AAA. At each stage, you can easily see what more you would need to do to reach Level AA or AAA. In this way, many websites include elements at multiple levels of accessibility.
UPDATE: Since writing this post in August 2017, several important changes have taken place in the laws regarding ADA compliance for websites. On December 26, 2017, the Department of Justice announced that they have withdrawn the Obama-era Advance Notice of Proposed Rulemaking mentioned in this article which intended to require ADA website compliance. The DOJ’s withdrawal announcement stated, “The Department will continue to assess whether specific technical standards are necessary and appropriate to assist covered entities with complying with the ADA.”
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.