MS HB30

Amends Section 27-33-75 of the Mississippi Code to increase homestead exemptions from ad valorem taxes for qualified homeowners.

For counties that have completed property valuations updates as of January 1, 2001, increases the exemption table for subsection (1) homeowners, adding new brackets up to $9,901 and above assessed values with a maximum exemption of $402.00.

For counties that have completed property valuations updates, increases the exemption for subsection (2) homeowners from $6,000 to $7,500 of assessed homestead value, and further increases to $10,000 effective January 1, 2011.

Half of all exemptions apply to school district tax purposes and half to county general fund purposes.

Effective January 1, 2011, with the increased exemptions applying to claims made in the 2011 calendar year and subsequent years.