MS HB1659

Creates a new homestead property tax exemption for individuals retired from service in the United States Armed Forces or as a law enforcement officer or law enforcement employee, effective January 1, 2024.

Provides retired military and law enforcement personnel with an exemption of up to 25% of the assessed value of homestead property under Section 27-33-75(2)(d).

Exemption applies to those who retired on or before January 1 of the tax year for which exemption is claimed and follows the same application procedures as existing homestead exemptions.

Exemption claims become effective for the 2024 calendar year with reimbursement made in the 2025 calendar year and subsequent years.

Brings forward Section 27-33-31 regarding homestead exemption applications for potential future amendment.