Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to request an exemption from ad valor em taxes for [Property Name or Address] in the state of Mississippi. As a responsible property owner, I am aware of the importance of contributing to the community's growth and development. However, I believe that my property meets the criteria for exemption based on [relevant exemption category]. Mississippi offers various types of exemptions for ad valor em taxes, including: 1. Homestead Exemption: This exemption provides relief to homeowners who use the property as their primary residence. I have been residing in the aforementioned property since [date], and it serves as my primary residence. I kindly request consideration for this exemption. 2. Disabled Veteran Exemption: Mississippi recognizes the service and sacrifices made by disabled veterans in protecting our nation's freedom. As a disabled veteran, I am eligible for this exemption, as it acknowledges the impact of service-related disabilities on employment and finances. 3. Charitable Exemption: If the property in question is used for charitable or nonprofit purposes, it may qualify for exemption from ad valor em taxes. The property mentioned is utilized by our organization, [Organization Name], for providing vital services to the community. We kindly request consideration for this exemption, as it would enable us to allocate more resources towards fulfilling our charitable mission. Please find attached all the necessary documents supporting my request for exemption. These include [List Supporting Documents, such as proof of ownership, residency, disability, or nonprofit status]. I trust that these documents will demonstrate my eligibility and highlight my sincere intention to adhere to the tax regulations while benefiting the community. I respectfully request your assistance in reviewing my application and supporting documents. If there are any additional forms or requirements that need to be fulfilled, please do not hesitate to inform me. I am available to provide any further information or engage in any necessary discussions to facilitate this process. Thank you for considering my request for exemption of ad valor em taxes. I am confident that granting this exemption will be in the best interest of both the community and me. Your prompt attention to this matter is greatly appreciated. Yours faithfully, [Your Name] [Your Address] [City, State, ZIP Code] [Contact Number] [Email Address]
Mississippi Sample Letter for Exemption of Ad Valorem Taxes
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How to fill out Sample Letter For Exemption Of Ad Valorem Taxes?
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Each qualified homeowner under sixty-five (65) years of age on January 1 of the year for which the exemption is claimed, and who is not totally disabled as herein defined shall be exempt from ad valorem taxes in the amount prescribed in Section 27-33-69, 27-33-71, 27-33-73 or 27-33-75, whichever is applicable to the ...
The applicant must come in person to the Tax Assessor's office the first time to file for homestead exemption benefits. Each year after that the homestead exemption benefits are automatically renewed unless there is a change in the filing status.
Persons who are 65 years of age and older or who are disabled, upon application and proof of eligibility, are exempt from all ad valorem taxes up to $7,500.00 of assessed value.
Mississippi exempts all forms of retirement income from taxation, including Social Security benefits, income from an IRA, income from a 401(k) and any pension income. On top of that, the state has low property taxes and moderate sales taxes.
Assessed value has been established as 30% of the Manufacturer's Suggested Retail Price plus a reduction of a certain percentage for depreciation over 10 years. A minimum assessed value is set at $100.00 for passenger vehicles. This ad valorem tax is revenue used by the local governments.
When are property taxes due? Taxes are due on or before February 1 for property assessed the preceding year. If February 1 falls on a weekend or legal holiday, taxes may be paid the following Monday without penalties or interest.
Rather state law simply exempts the homeowner from ad valorem taxes for up to $7,500 in as- sessed value. In other words, a home with a true value of $75,000 or less would be exempt from all property taxes (municipal, school district, and county).
A person requesting homestead exemption must make a written application, must be a natural person, the head of a family, have ownership and eligible property, occupy the dwelling as a home, and be a Mississippi resident. Each of these requirements are discussed in detail.