MS HB95

Increases homestead exemption for qualified homeowners age 65 or older or totally disabled from $6,000 to $10,000 of assessed property value, effective January 1, 2011.

For counties that have completed property valuations, raises maximum exemption from $7,500 to $10,000 on assessed homestead property value for eligible seniors and disabled persons.

Exemptions are split equally between school district taxes and county general fund taxes.

Applies to exemptions claimed in the 2011 calendar year and subsequent years.

Does not affect tax claims, assessments, or appeals accrued before the effective date of the act.