MS HB1406

Creates Section 27-33-76 to authorize county boards of supervisors and municipal governing authorities to grant ad valorem tax exemptions on homesteads of Mississippi residents serving on active duty in Iraq or Afghanistan as members of the Mississippi National Guard, U.S. Armed Forces, or reserve components.

Counties may grant exemptions up to $100 or the full county ad valorem taxes due (whichever is less), excluding school district taxes, for eligible active duty service members.

Municipalities may grant exemptions up to $50 or the full municipal ad valorem taxes due (whichever is less), excluding school district taxes, for eligible active duty service members.

Eligible service members must present military orders and a Department of Revenue-prescribed form to the tax collector to claim the exemption.

Exemptions are in addition to all other existing tax exemptions and the Department of Revenue shall adopt rules and regulations to administer the program, effective January 1, 2011.