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

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.