MS SB2041

Extends full ad valorem tax exemption on homestead property to service-connected, totally disabled American veterans who have been honorably discharged from military service.

Extends full homestead property tax exemption to unremarried surviving spouses of qualifying disabled veterans, effective January 1, 2010.

Increases homestead exemption cap from $6,000 to $7,500 of assessed value for counties that have completed updated valuations of Class I property as certified by the State Tax Commission.

Exempts qualifying disabled veterans and their unremarried surviving spouses from forest acreage tax applicable to homestead property.

Exemptions apply to claims made in the 2010 calendar year and subsequent years, with reimbursement beginning in 2011.