MS HB998

Increases homestead property tax exemption for qualified homeowners age 65 or older or totally disabled from $7,500 to $12,500 of assessed value, effective January 1, 2025.

Exemption applies to all ad valorem taxes on the increased amount for homeowners meeting eligibility requirements under Section 27-33-67(2) of Mississippi Code.

New exemption amount takes effect for claims made in the 2025 calendar year with reimbursement beginning in the 2026 calendar year and continuing in subsequent years.

Maintains existing exemptions and provisions for unremarried surviving spouses of armed forces members and other qualified homeowners under current law.

Takes effect July 1, 2024.