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MS SB2460
Bill
AI Summary
- Homestead property owners would receive an exemption from ad valorem taxes on any increase in assessed value up to 10% above the previous year's assessed value
- The exemption applies to both regular qualified homeowners and those qualifying for the full $7,500 assessed value exemption (such as elderly or disabled homeowners)
- This new exemption is in addition to existing homestead exemptions, which range from $6.00 to $300.00 based on assessed value tiers
- The exemption would apply to claims beginning in calendar year 2009, with reimbursements starting in 2010
- Effective date: January 1, 2010
Legislative Description
Ad valorem tax, homestead property; exempt portion of increase in assessed value above assessed value for preceding year.
Last Action
Died In Committee
2/24/2010
Full Bill Text
No bill text available