MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Finance
By: Senator(s) Watson
AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF HOMESTEAD EXEMPTION FOR PERSONS WHO ARE 65 YEARS OF AGE OR OLDER OR 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) 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) (a) 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.
(b) From and after January 1, 2013, 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 Ten Thousand Dollars ($10,000.00) of the assessed value of the homestead property.
(3) 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 exemption provided for in subsection (2)(b) of this section shall apply to exemptions claimed in the 2013 calendar year for which reimbursement is made in the 2014 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 January 1, 2013.