MS HB96

Increases the maximum homestead exemption from $300 to $402 for qualified homeowners in counties that have completed and implemented a Class I property valuation update after January 1, 2008

Raises the exemption cap for elderly and disabled homeowners (those described in Section 27-33-67 subsection 2) from $7,500 to $10,000 of assessed property value

Extends the homestead exemption table to cover assessed values up to $9,901 and above, compared to the previous cap of $7,351 and above

Requires Department of Revenue certification that new property valuations have been implemented before the increased exemption applies to a county

Takes effect January 1, 2013, with reimbursements beginning in the 2014 calendar year