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Bill > HB784
MS HB784
MS HB784Homestead exemption; increase for persons 65 years of age or older or totally disabled.
summary
Introduced
01/31/2024
01/31/2024
In Committee
01/31/2024
01/31/2024
Crossed Over
Passed
Dead
03/27/2024
03/27/2024
Introduced Session
2024 Regular Session
Bill Summary
An Act To Amend Section 27-33-75, Mississippi Code Of 1972, To Provide That Persons Who Are Sixty-five Years Of Age Or Older Or Who Are Totally Disabled Shall Be Exempt From All Ad Valorem Taxes On The Assessed Value Of Homestead Property; And For Related Purposes.
AI Summary
This bill amends a section of the Mississippi Code to provide that persons who are 65 years of age or older or who are totally disabled shall be exempt from all ad valorem (property) taxes on the assessed value of their homestead property. The bill increases the existing homestead exemption for these qualified homeowners, allowing them to be exempt from all ad valorem taxes on the assessed value of their homestead property starting in 2025. The bill also includes some additional provisions related to increases in the assessed value of the homestead property over time.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 03/27/2024)
Taxonomy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Assistance to the Disabled and Handicapped
- ‐ Services for the Elderly and Senior Citizens
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2024/pdf/history/HB/HB0784.xml | 01/31/2024 |
| BillText | https://billstatus.ls.state.ms.us/documents/2024/html/HB/0700-0799/HB0784IN.htm | 01/31/2024 |
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