MS HB1496

Increases the maximum acreage for homestead exemption from 160 acres to 320 acres across all relevant sections of Mississippi Code (sections 85-3-21, 85-3-27, 85-3-31, and 85-3-35)

Maintains the property value exemption limit of $75,000.00 inclusive of improvements, with existing encumbrances deducted from actual value

Applies the expanded acreage exemption to homestead declarations, default homestead allocations, and officer-conducted allotments when proper selection has not been filed

Preserves existing protections for spouses over age 60 who have previously claimed exemption and allows for contest of improper declarations by creditors and spouses

Effective date: July 1, 2013