MISSISSIPPI LEGISLATURE
2010 Regular Session
To: Ways and Means
By: Representatives Zuber, Guice
AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT OWNERS OF HOMESTEAD PROPERTY SHALL BE ALLOWED AN EXEMPTION FROM AD VALOREM TAXES IN AN AMOUNT EQUAL TO THE INCREASE IN THE ASSESSED VALUE OF THE HOMESTEAD PROPERTY, NOT TO EXCEED FIVE PERCENT, ABOVE THE ASSESSED VALUE OF SUCH HOMESTEAD PROPERTY FOR THE PRECEDING CALENDAR YEAR; TO PROVIDE THAT THE AD VALOREM TAX EXEMPTION PROVIDED BY THIS ACT IS IN ADDITION TO ALL OTHER EXEMPTIONS PROVIDED BY STATE LAW; 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) (a) Qualified homeowners described in subsection (1) of Section 27-33-67 shall be allowed an exemption from ad valorem taxes in an amount equal to the increase in the assessed value of the homestead property, not to exceed an increase of five percent (5%), above the assessed value of such homestead property for the preceding calendar year. One-half (1/2) of the exemption allowed in this paragraph (a) shall be from taxes levied for school district purposes and one-half (1/2) shall be from taxes levied for county general fund purposes.
(b) Qualified homeowners described in subsection (2) of Section 27-33-67 shall be allowed an exemption from all ad valorem taxes in an amount equal to the increase in the assessed value of the homestead property, not to exceed an increase of five percent (5%), above the assessed value of such homestead property for the preceding calendar year.
(c) The exemptions provided in this subsection shall be in addition to the exemptions provided in subsections (1) and (2) of this section and all other exemptions authorized by the laws of the State of Mississippi.
(4) Except as otherwise provided in this subsection, this section shall apply to exemptions claimed in the 2001 calendar year for which reimbursement is made in the 2002 calendar year and to exemptions claimed for which reimbursement is made in subsequent years. The exemptions provided for in subsection (3) of this section shall apply to exemptions claimed in the 2010 calendar year for which reimbursement is made in the 2011 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, 2010.