House Bill 36 Summary

• Amends Section 27-33-75 of Mississippi Code to increase homestead property tax exemptions for qualified homeowners in counties that have completed property valuations as of January 1, 2001.

• Expands the exemption table for Class I property from a maximum of $5,851 and above (at $240.00 exemption) to $8,851 and above (at $360.00 exemption), providing increased exemptions across all assessed value ranges.

• Increases the homestead exemption for elderly or disabled homeowners from $6,000 to $7,500 in assessed property value (or to $9,000 effective January 1, 2014).

• Maintains the split of exemption benefits between school district purposes and county general fund purposes, with one-half allocated to each.

• Takes effect January 1, 2013, with exemptions claimed in the 2014 calendar year eligible for the increased amounts starting with reimbursements made in 2015.