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MS HB4007
MS HB4007Homestead Exemption; increase for certain lineal descendants of previous owners of homestead property.
summary
Introduced
02/18/2026
02/18/2026
In Committee
02/18/2026
02/18/2026
Crossed Over
Passed
Dead
02/25/2026
02/25/2026
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 27-33-75, Mississippi Code Of 1972, To Provide That A Qualified Homeowner Who Is A Lineal Descendant Of Previous Owners Of The Property For Which Homestead Exemption Has Been Claimed For No Less Than Fifteen Years Shall Be Allowed An Additional Exemption On Certain Ad Valorem Taxes On The Increase In The Assessed Value Of The Homestead Property Resulting From A Subsequent Update In Valuation Of The Property; And For Related Purposes.
AI Summary
This bill, effective January 1, 2026, amends Mississippi law to provide an additional homestead exemption for certain lineal descendants of previous property owners. Specifically, a qualified homeowner who is a direct descendant of a previous owner, and whose family has continuously owned the homestead property for at least fifteen years, will be allowed an additional exemption on ad valorem taxes (local property taxes). This exemption will cover the amount by which the property's updated assessed value exceeds 110% of the average assessed value during the time the property has been owned by the lineal descendants. This aims to protect families who have owned homesteads for generations from significant tax increases due to property revaluations.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 02/25/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB4007.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/HB/4000-4099/HB4007IN.htm |
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