MS SB2658

Increases homestead exemption for qualified homeowners age 65 or older or totally disabled from $7,500 to $10,000 of assessed property value, effective January 1, 2011.

Exemption applies to all ad valorem taxes on the qualifying amount of homestead property value.

Increase applies to exemptions claimed in the 2011 calendar year and subsequent years, with reimbursement beginning in the 2012 calendar year.

Maintains existing exemption structure for other qualified homeowners, with half the exemption from school district taxes and half from county general fund taxes.