MS HB782

Amends Section 27-33-75, Mississippi Code of 1972, to provide a homestead property ad valorem tax exemption for service-connected totally disabled American veterans who have been honorably discharged from military service.

Effective January 1, 2014, qualified totally disabled veterans receive an exemption from all ad valorem taxes on the assessed value of homestead property (previously capped at $7,500).

For counties that have not completed property valuations as of January 1, 2001, the exemption for other qualified homeowners remains capped at $6,000 of assessed value.

For counties that completed property valuations by January 1, 2001, the exemption for other qualified homeowners increases from $6,000 to $7,500 of assessed value, with disabled veterans receiving a full exemption.

Does not affect any tax claims, assessments, appeals, or liens that accrued before the effective date and takes effect January 1, 2014.