MS HB1697

Honorably discharged veterans with a 100% service-connected disability would receive a complete exemption from all ad valorem taxes on their homestead property, effective January 1, 2010

The full exemption applies regardless of the assessed value of the homestead, expanding from the previous cap of $7,500 in assessed value for disabled veterans

Standard homestead exemptions for other qualified homeowners remain unchanged, with exemptions ranging from $6 to $300 based on assessed value tiers

Reimbursement for the new veteran exemption begins in calendar year 2011 for exemptions claimed in 2010

Existing tax claims, assessments, or causes of action accrued before the effective date are not affected by this legislation