MS HB19

Increases homestead ad valorem tax exemptions for qualified homeowners in counties that have completed property valuations as of January 1, 2001, by expanding the exemption table to include additional assessed value brackets up to $8,851 and above (previously capped at $5,851 and above).

Raises the maximum homestead exemption from all ad valorem taxes for elderly and disabled homeowners from $6,000 to $7,500 of assessed property value, effective immediately upon enactment.

Further increases the elderly and disabled homeowner exemption to $9,000 of assessed value, effective January 1, 2010, for exemptions claimed in the 2010 calendar year and subsequent years.

Maintains the same exemption structure for counties that have not yet completed property valuations, with exemptions capped at $5,851 and above ($240.00).

Effective January 1, 2010, with increased exemptions applying to claims made in the 2010 calendar year and later.