As used in this chapter, the term:

(1) "County millage rate" means the ad valorem tax millage rate levied by a county for county purposes and applying to all qualified homesteads in the county, not including any millage levied for purposes of bonded indebtedness and not including any millage levied for school purposes.

(2) "Eligible assessed value" means a certain stated amount of the assessed value of each qualified homestead in the state. The amount of the eligible assessed value for any given year shall be fixed in that year's General Appropriations Act.

(3) "Fiscal authority" means the political subdivision which levies and collects ad valorem taxes on behalf of a local school district and may, if appropriate, include a local school district itself but will generally refer to a county or municipality which levies and collects ad valorem taxes on behalf of a local school district.

(4) "Qualified homestead" means a homestead qualified for any exemption, state, county, or school, authorized under Code Section 48-5-44.

(5) "School millage rate" means the ad valorem tax millage rate levied by or on behalf of a local school district and applying to all qualified homesteads in the local school district, not including any millage levied for purposes of bonded indebtedness and not including any millage levied for county purposes.

(6) "State millage rate" means the state millage levy.