MS HB1868

Increases the homestead exemption from ad valorem taxes for persons 65 years of age or older or totally disabled from $7,500 to $14,000 of assessed property value, effective January 1, 2027.

The exemption applies to qualified homeowners who meet age or disability requirements under existing Mississippi homestead exemption law (Section 27-33-67).

Reimbursements to counties for the increased exemption amount will begin in the 2028 calendar year for exemptions claimed in 2027.

The bill takes effect July 1, 2026, with the increased exemption applying to the 2027 tax year.