MISSISSIPPI LEGISLATURE

2000 Regular Session

To: Finance

By: Senator(s) Lee

AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE HOMESTEAD PROPERTY OF HOMEOWNERS 65 YEARS OF AGE OR OLDER OR TOTALLY DISABLED SHALL BE EXEMPT FROM 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:

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 * * * their 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. This act shall take effect and be in force from and after July 1, 2000.