MISSISSIPPI LEGISLATURE

2001 Regular Session

To: Ways and Means

By: Representative Janus

House Bill 1566

AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO INCREASE THE EXEMPTION FROM AD VALOREM TAXES ON HOMESTEADS IN COUNTIES THAT HAVE COMPLETED AN UPDATE IN THE VALUATION OF CLASS I PROPERTY IN THE COUNTY ACCORDING TO PROCEDURES PRESCRIBED BY THE STATE TAX COMMISSION AND FOR WHICH THE STATE TAX COMMISSION HAS CERTIFIED THAT SUCH NEW VALUATIONS HAVE BEEN IMPLEMENTED FOR THE PURPOSES OF AD VALOREM TAXATION; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 27-33-75, Mississippi Code of 1972, is amended as follows:

[With regard to any county that has not completed an update in the valuation of Class I property, as designated by Section 112, Mississippi Constitution of 1890, in the county according to procedures prescribed by the State Tax Commission and in effect on January 1, 2001, and has not implemented such valuations for the purposes of ad valorem taxation, this section shall read as follows:]

27-33-75. (1) Qualified homeowners described in subsection (1) of Section 27-33-67 shall be allowed an exemption from ad valorem taxes according to the following table:

ASSESSED VALUE HOMESTEAD

OF HOMESTEAD EXEMPTION

$ 1 - $ 150 $ 6.00

151 - 300 12.00

301 - 450 18.00

451 - 600 24.00

601 - 750 30.00

751 - 900 36.00

901 - 1,050 42.00

1,051 - 1,200 48.00

1,201 - 1,350 54.00

1,351 - 1,500 60.00

1,501 - 1,650 66.00

1,651 - 1,800 72.00

1,801 - 1,950 78.00

1,951 - 2,100 84.00

2,101 - 2,250 90.00

2,251 - 2,400 96.00

2,401 - 2,550 102.00

2,551 - 2,700 108.00

2,701 - 2,850 114.00

2,851 - 3,000 120.00

3,001 - 3,150 126.00

3,151 - 3,300 132.00

3,301 - 3,450 138.00

3,451 - 3,600 144.00

3,601 - 3,750 150.00

3,751 - 3,900 156.00

3,901 - 4,050 162.00

4,051 - 4,200 168.00

4,201 - 4,350 174.00

4,351 - 4,500 180.00

4,501 - 4,650 186.00

4,651 - 4,800 192.00

4,801 - 4,950 198.00

4,951 - 5,100 204.00

5,101 - 5,250 210.00

5,251 - 5,400 216.00

5,401 - 5,550 222.00

5,551 - 5,700 228.00

5,701 - 5,850 234.00

5,851 and above 240.00

Assessed values shall be rounded to the next whole dollar (Fifty Cents (50) rounded to the next highest dollar) for the purposes of the above table.

One-half (1/2) of the exemption allowed in the above table shall be from taxes levied for school district purposes and one-half (1/2) shall be from taxes levied for county general fund purposes.

(2) Qualified homeowners described in subsection (2) of Section 27-33-67 shall be allowed an exemption from all ad valorem taxes on not in excess of Six Thousand Dollars ($6,000.00) of the assessed value of the homestead property.

(3) This section shall apply to exemptions claimed in the 1988 calendar year for which reimbursement is made in the 1989 calendar year and to exemptions claimed for which reimbursement is made in subsequent years.

[With regard to any county that has completed an update in the valuation of Class I property, as designated by Section 112, Mississippi Constitution of 1890, in the county according to procedures prescribed by the State Tax Commission and in effect on January 1, 2001, and for which the State Tax Commission has certified that such new valuations have been implemented for the purposes of ad valorem taxation, this section shall read as follows:]

27-33-75. (1) Qualified homeowners described in subsection (1) of Section 27-33-67 shall be allowed an exemption from ad valorem taxes according to the following table:

ASSESSED VALUE HOMESTEAD

OF HOMESTEAD EXEMPTION

$ 1 - $ 150 $ 6.00

151 - 300 12.00

301 - 450 18.00

451 - 600 24.00

601 - 750 30.00

751 - 900 36.00

901 - 1,050 42.00

1,051 - 1,200 48.00

1,201 - 1,350 54.00

1,351 - 1,500 60.00

1,501 - 1,650 66.00

1,651 - 1,800 72.00

1,801 - 1,950 78.00

1,951 - 2,100 84.00

2,101 - 2,250 90.00

2,251 - 2,400 96.00

2,401 - 2,550 102.00

2,551 - 2,700 108.00

2,701 - 2,850 114.00

2,851 - 3,000 120.00

3,001 - 3,150 126.00

3,151 - 3,300 132.00

3,301 - 3,450 138.00

3,451 - 3,600 144.00

3,601 - 3,750 150.00

3,751 - 3,900 156.00

3,901 - 4,050 162.00

4,051 - 4,200 168.00

4,201 - 4,350 174.00

4,351 - 4,500 180.00

4,501 - 4,650 186.00

4,651 - 4,800 192.00

4,801 - 4,950 198.00

4,951 - 5,100 204.00

5,101 - 5,250 210.00

5,251 - 5,400 216.00

5,401 - 5,550 222.00

5,551 - 5,700 228.00

5,701 - 5,850 234.00

5,851 - 6,000 240.00

6,001 - 6,150 246.00

6,151 - 6,300 252.00

6,301 - 6,450 258.00

6,451 - 6,600 264.00

6,601 - 6,750 270.00

6,751 - 6,900 276.00

6,901 - 7,050 282.00

7,051 - 7,200 288.00

7,201 - 7,350 294.00

7,351 and above 300.00

Assessed values shall be rounded to the next whole dollar (Fifty Cents (50) rounded to the next highest dollar) for the purposes of the above table.

One-half (1/2) of the exemption allowed in the above table shall be from taxes levied for school district purposes and one-half (1/2) shall be from taxes levied for county general fund purposes.

(2) Qualified homeowners described in subsection (2) of Section 27-33-67 shall be allowed an exemption from all ad valorem taxes on not in excess of Seven Thousand Five Hundred Dollars ($7,500.00) of the assessed value of the homestead property.

(3) This section shall apply to exemptions claimed in the 1988 calendar year for which reimbursement is made in the 1989 calendar year and to exemptions claimed for which reimbursement is made in subsequent years.

SECTION 2. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the ad valorem tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the ad valorem tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.

SECTION 3. This act shall take effect and be in force from and after January 1, 2001.