MS HB18

Amends Section 27-33-75 of Mississippi Code to increase homestead property tax exemptions for qualified homeowners.

For counties that have completed property valuations and implemented them by January 1, 2001, increases the maximum assessed value in the exemption table from $5,851 to $8,551 and above, with maximum exemption rising from $240.00 to $348.00.

Increases the full exemption threshold for certain qualified homeowners from $6,000.00 to $7,500.00 of assessed homestead value, effective immediately, and further increases it to $8,700.00 effective January 1, 2010.

One-half of all exemptions apply to school district taxes and one-half to county general fund taxes.

Takes effect January 1, 2010, with increased exemptions applying to claims made in the 2010 calendar year for reimbursement in 2011 and subsequent years.