MISSISSIPPI LEGISLATURE
2015 Regular Session
To: Ways and Means
By: Representatives Barton, Ladner, Byrd, Nelson, Chism
AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A QUALIFIED HOMEOWNER CLAIMING A HOMESTEAD EXEMPTION ALLOWED FOR A PERSON WHO IS SIXTY-FIVE YEARS OF AGE OR OLDER OR TOTALLY DISABLED SHALL BE ALLOWED AN ADDITIONAL EXEMPTION FROM ALL AD VALOREM TAXES ON AN AMOUNT EQUAL TO THE DIFFERENCE BETWEEN THE ASSESSED VALUE OF THE HOMESTEAD PROPERTY ON JANUARY 1, 2015, OR JANUARY 1 OF THE FIRST YEAR FOR WHICH THE QUALIFIED HOMEOWNER CLAIMS AN EXEMPTION ON THE PROPERTY, AND ANY INCREASE IN THE ASSESSED VALUE OF THE HOMESTEAD PROPERTY RESULTING FROM AN UPDATE IN VALUATION OF THE HOMESTEAD PROPERTY THAT IS COMPLETED DURING THE TIME THE QUALIFIED HOMEOWNER OWNS THE PROPERTY; 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) Except as otherwise provided in this subsection, 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, 2015, qualified homeowners described in subsection (2)(a) of Section 27-33-67 and unremarried surviving spouses of such homeowners shall be allowed an exemption from all ad valorem taxes on the assessed value of the homestead property.
(c) A qualified homeowner claiming an exemption under paragraph (a) of this subsection shall be allowed an additional exemption from all ad valorem taxes on an amount equal to the difference between (i) the assessed value of the homestead property on January 1, 2015, or January 1 of the first year for which the qualified homeowner claims an exemption for the homestead property under paragraph (a) of this subsection, and (ii) any increase in the assessed value of the homestead property resulting from a subsequent update in valuation of the homestead property that is completed during the time the qualified homeowner owns the property. However, except for renovations, expansions, improvements or additions to promote energy efficiency, safety or access to the homestead property, the exemption authorized in this paragraph (c) shall not apply to any portion of increase in the assessed value of the homestead property that is attributable to renovations, expansions or improvements of or additions to the property during such time. For the purposes of this paragraph (c), an update in valuation of the homestead property occurs when a county 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 Department of Revenue and in effect on January 1, 2015, and for which the Department of Revenue has certified that such new valuations have been implemented for the purposes of ad valorem taxation.
(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 2015 calendar year for which reimbursement is made in the 2016 calendar year and to exemptions claimed for which reimbursement is made in subsequent years. The exemption provided for in paragraph (c) of this subsection shall apply to exemptions claimed in the 2015 calendar year for which reimbursement is made in the 2016 calendar year and to exemptions claimed for which reimbursement is made in subsequent years.
SECTION 2. Notwithstanding any other provision of law to the contrary, if both spouses qualify for the exemption provided in Section 27-33-67(2) and one (1) of the spouses dies, the surviving spouse shall be eligible for such exemption regardless of whether the surviving spouse files a new application for homestead exemption.
SECTION 3. Section 2 of this act shall be codified as a new section in Chapter 33, Title 27, Mississippi Code of 1972.
SECTION 4. 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 5. This act shall take effect and be in force from and after January 1, 2015.