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MS SB2294
Bill
AI Summary
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Amends Section 27-33-67, Mississippi Code of 1972, to modify homestead exemption eligibility for jointly owned property.
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Allows a joint owner aged 65 or older who uses the property as a homestead to claim the full over-65 exemption if no other joint owner resides at the property.
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Previously, exemptions on jointly owned property (except for husband-wife or fee simple ownership) were calculated based on each owner's individual qualifications and pro rata share.
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Takes effect July 1, 2018.
Legislative Description
Homestead exemption; a joint owner who fulfills the age requirement qualifies for the exemption in full under certain circumstances.
Last Action
Died In Committee
2/21/2018
Committee Referrals
Finance1/10/2018
Full Bill Text
No bill text available