MS HB705

Extends homestead property tax exemptions to veterans with service-connected, less than total disabilities (in addition to those with total disabilities) who have been honorably discharged from military service.

Veterans with less than total disability ratings receive an ad valorem tax exemption on homestead property equal to their disability rating percentage, effective January 1, 2021.

Requires veterans to provide proper proof of their service-connected disability rating to qualify for the exemption.

Exemption applies to claims made in the 2021 calendar year and subsequent years, with reimbursement beginning in the 2022 calendar year.

Effective date: July 1, 2020.