- 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 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.
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- 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 Dollars ($7,000.00) of the assessed value of the homestead property.
- This section shall only apply to exemptions claimed in the 1986 calendar year for which reimbursement is made in the 1987 calendar year.
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 and above 282.00