MISSISSIPPI LEGISLATURE

2001 Regular Session

To: Finance

By: Senator(s) Hewes, Dearing, Moffatt, Chaney, Smith, Gollott, Dawkins, Cuevas, Nunnelee, Ross, Carlton, Dickerson, Carmichael, King, Harden, Chamberlin, Mettetal, Horhn, Furniss, Frazier, Michel

Senate Bill 2630

AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO PHASE IN A 25% INCREASE IN HOMESTEAD EXEMPTION OVER A PERIOD OF FIVE YEARS; TO INCREASE THE AMOUNT OF THE EXEMPTION FOR PERSONS 65 YEARS OF AGE OR OLDER OR PERSONS WHO ARE TOTALLY DISABLED; 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:

27-33-75. (1) For exemptions claimed through calendar year 2001, 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) For exemptions claimed during calendar year 2002, 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 $ 7.00

151 - 300 14.00

301 - 450 22.00

451 - 600 29.00

601 - 750 36.00

751 - 900 43.00

901 - 1,050 50.00

1,051 - 1,200 58.00

1,201 - 1,350 65.00

1,351 - 1,500 72.00

1,501 - 1,650 79.00

1,651 - 1,800 86.00

1,801 - 1,950 94.00

1,951 - 2,100 101.00

2,101 - 2,250 108.00

2,251 - 2,400 115.00

2,401 - 2,550 122.00

2,551 - 2,700 130.00

2,701 - 2,850 137.00

2,851 - 3,000 144.00

3,001 - 3,150 151.00

3,151 - 3,300 158.00

3,301 - 3,450 166.00

3,451 - 3,600 173.00

3,601 - 3,750 180.00

3,751 - 3,900 187.00

3,901 - 4,050 194.00

4,051 - 4,200 202.00

4,201 - 4,350 209.00

4,351 - 4,500 216.00

4,501 - 4,650 223.00

4,651 - 4,800 211.00

4,801 - 4,950 218.00

4,951 - 5,100 245.00

5,101 - 5,250 252.00

5,251 - 5,400 259.00

5,401 - 5,550 266.00

5,551 - 5,700 274.00

5,701 - 5,850 281.00

5,851 and above 288.00

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.

(3) For exemptions claimed in calendar year 2003, 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 13.00

301 - 450 19.00

451 - 600 25.00

601 - 750 32.00

751 - 900 38.00

901 - 1,050 44.00

1,051 - 1,200 50.00

1,201 - 1,350 57.00

1,351 - 1,500 63.00

1,501 - 1,650 70.00

1,651 - 1,800 76.00

1,801 - 1,950 82.00

1,951 - 2,100 88.00

2,101 - 2,250 95.00

2,251 - 2,400 101.00

2,401 - 2,550 107.00

2,551 - 2,700 113.00

2,701 - 2,850 120.00

2,851 - 3,000 126.00

3,001 - 3,150 132.00

3,151 - 3,300 139.00

3,301 - 3,450 145.00

3,451 - 3,600 151.00

3,601 - 3,750 157.00

3,751 - 3,900 164.00

3,901 - 4,050 170.00

4,051 - 4,200 176.00

4,201 - 4,350 182.00

4,351 - 4,500 189.00

4,501 - 4,650 195.00

4,651 - 4,800 202.00

4,801 - 4,950 208.00

4,951 - 5,100 214.00

5,101 - 5,250 220.00

5,251 - 5,400 227.00

5,401 - 5,550 233.00

5,551 - 5,700 239.00

5,701 - 5,850 246.00

5,851 and above 252.00

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.

(4) For exemptions claimed in calendar year 2004, 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 $ 7.00

151 - 300 13.00

301 - 450 20.00

451 - 600 26.00

601 - 750 33.00

751 - 900 40.00

901 - 1,050 46.00

1,051 - 1,200 53.00

1,201 - 1,350 59.00

1,351 - 1,500 66.00

1,501 - 1,650 73.00

1,651 - 1,800 79.00

1,801 - 1,950 86.00

1,951 - 2,100 92.00

2,101 - 2,250 99.00

2,251 - 2,400 106.00

2,401 - 2,550 112.00

2,551 - 2,700 119.00

2,701 - 2,850 125.00

2,851 - 3,000 132.00

3,001 - 3,150 139.00

3,151 - 3,300 145.00

3,301 - 3,450 152.00

3,451 - 3,600 158.00

3,601 - 3,750 165.00

3,751 - 3,900 172.00

3,901 - 4,050 178.00

4,051 - 4,200 185.00

4,201 - 4,350 191.00

4,351 - 4,500 198.00

4,501 - 4,650 205.00

4,651 - 4,800 211.00

4,801 - 4,950 218.00

4,951 - 5,100 224.00

5,101 - 5,250 231.00

5,251 - 5,400 238.00

5,401 - 5,550 244.00

5,551 - 5,700 251.00

5,701 - 5,850 257.00

5,851 and above 264.00

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.

(5) For exemptions claimed in calendar year 2005, 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 $ 7.00

151 - 300 14.00

301 - 450 21.00

451 - 600 28.00

601 - 750 35.00

751 - 900 41.00

901 - 1,050 48.00

1,051 - 1,200 55.00

1,201 - 1,350 62.00

1,351 - 1,500 69.00

1,501 - 1,650 76.00

1,651 - 1,800 83.00

1,801 - 1,950 88.00

1,951 - 2,100 97.00

2,101 - 2,250 104.00

2,251 - 2,400 110.00

2,401 - 2,550 117.00

2,551 - 2,700 124.00

2,701 - 2,850 131.00

2,851 - 3,000 138.00

3,001 - 3,150 145.00

3,151 - 3,300 152.00

3,301 - 3,450 159.00

3,451 - 3,600 166.00

3,601 - 3,750 173.00

3,751 - 3,900 179.00

3,901 - 4,050 186.00

4,051 - 4,200 193.00

4,201 - 4,350 200.00

4,351 - 4,500 207.00

4,501 - 4,650 214.00

4,651 - 4,800 221.00

4,801 - 4,950 227.00

4,951 - 5,100 235.00

5,101 - 5,250 242.00

5,251 - 5,400 248.00

5,401 - 5,550 255.00

5,551 - 5,700 262.00

5,701 - 5,850 269.00

5,851 and above 276.00

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.

(6) For exemptions claimed in calendar year 2006 and thereafter, 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 $ 8.00

151 - 300 15.00

301 - 450 23.00

451 - 600 30.00

601 - 750 38.00

751 - 900 45.00

901 - 1,050 53.00

1,051 - 1,200 60.00

1,201 - 1,350 68.00

1,351 - 1,500 75.00

1,501 - 1,650 83.00

1,651 - 1,800 90.00

1,801 - 1,950 98.00

1,951 - 2,100 105.00

2,101 - 2,250 113.00

2,251 - 2,400 120.00

2,401 - 2,550 128.00

2,551 - 2,700 135.00

2,701 - 2,850 143.00

2,851 - 3,000 150.00

3,001 - 3,150 158.00

3,151 - 3,300 165.00

3,301 - 3,450 173.00

3,451 - 3,600 180.00

3,601 - 3,750 188.00

3,751 - 3,900 195.00

3,901 - 4,050 203.00

4,051 - 4,200 210.00

4,201 - 4,350 218.00

4,351 - 4,500 225.00

4,501 - 4,650 233.00

4,651 - 4,800 240.00

4,801 - 4,950 248.00

4,951 - 5,100 255.00

5,101 - 5,250 263.00

5,251 - 5,400 270.00

5,401 - 5,550 278.00

5,551 - 5,700 285.00

5,701 - 5,850 293.00

5,851 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.

(7) 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.

 * * *

SECTION 2. This act shall take effect and be in force from and after July 1, 2001.