Pursuant to Sections 6-10-12 & 43-8-116
On July 1, 2017, and at the end of each 3-year period thereafter, the State Treasurer shall adjust each dollar amount in this article or, for each adjustment after July 1, 2017, each adjusted amount, by an amount determined by the State Treasurer to reflect the cumulative change in the consumer price index, as published by the United States Department of Labor, or, if that index is no longer published, a generally available comparable index, for the 3-year period ending on the December 31 preceding the adjustment date and rounded to the nearest twenty-five dollars ($25.00). The adjusted amounts apply to exemptions claimed on or after April 1 following the adjustment date.
| Dollar Amount (as of July 1, 2017) | Dollar Amount (as of July 1, 2020) | |
|---|---|---|
| Homestead Exemption | $15,500 | $16,450 |
| Family Allowance | $15,500 | $16,450 |
| Personal Property Exemption | $7,750 | $8,225 |
| *Rounded to the nearest $25 | ||
Pursuant to Section 40-23-35(b)(4)b:
Beginning October 1, 2021, annually, to the Department of Conservation and Natural Resources for capital outlay, repairs, and maintenance of the state parks system only, seven million dollars ($7,000,000). Beginning with the fiscal year that starts October 1, 2022, the State Treasurer shall annually adjust the dollar amount in this subsection to reflect the cumulative change in the Consumer Price Index for All Urban Consumers (CPI-U), as published by the Bureau of Labor Statistics of the United States Department of Labor, or a successor index, for the annual period ending on the December 31 preceding the adjustment date and rounded to the nearest one thousand dollars ($1,000).