MS HB129

Amends Section 27-33-75 of Mississippi Code to provide a complete exemption from all ad valorem taxes on homestead property for persons with service-connected total disability who have been honorably discharged from military service, effective January 1, 2011.

Increases homestead exemption for qualified homeowners in counties that have completed property valuation updates from $6,000 to $7,500 of assessed homestead value.

Divides exemptions equally between school district taxes (one-half) and county general fund taxes (one-half).

Exemption applies to claims made in the 2011 calendar year with reimbursement in 2012 and subsequent years.

Does not affect any tax claims, assessments, or liens accrued before the effective date of January 1, 2011.