Homestead exemption; increase for persons 65 years of age or older or totally disabled.

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To: Ways and Means
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representatives Yancey, Powell

HOUSE BILL NO. 1868

AN ACT TO AMEND SECTION 27-33-75, MISSISSIPPI CODE OF 1972, 1
TO INCREASE THE AMOUNT OF HOMESTEAD EXEMPTION FROM AD VALOREM 2
TAXES FOR PERSONS WHO ARE SIXTY-FIVE YEARS OF AGE OR OLDER OR WHO 3
ARE TOTALLY DISABLED; AND FOR RELATED PURPOSES. 4
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 5
SECTION 1. Section 27-33-75, Mississippi Code of 1972, is 6
amended as follows: 7
27-33-75. (1) Qualified homeowners described in subsection 8
(1) of Section 27-33-67 shall be allowed an exemption from ad 9
valorem taxes according to the following table: 10
ASSESSED VALUE HOMESTEAD 11
OF HOMESTEAD EXEMPTION 12
$ 1 - $ 150.............................................. $ 6.00 13
151 - 300.............................................. 12.00 14
301 - 450.............................................. 18.00 15
451 - 600.............................................. 24.00 16
601 - 750.............................................. 30.00 17
751 - 900.............................................. 36.00 18
901 - 1,050.............................................. 42.00 19
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1,051 - 1,200.............................................. 48.00 20
1,201 - 1,350.............................................. 54.00 21
1,351 - 1,500.............................................. 60.00 22
1,501 - 1,650.............................................. 66.00 23
1,651 - 1,800.............................................. 72.00 24
1,801 - 1,950.............................................. 78.00 25
1,951 - 2,100.............................................. 84.00 26
2,101 - 2,250.............................................. 90.00 27
2,251 - 2,400.............................................. 96.00 28
2,401 - 2,550.............................................. 102.00 29
2,551 - 2,700.............................................. 108.00 30
2,701 - 2,850.............................................. 114.00 31
2,851 - 3,000.............................................. 120.00 32
3,001 - 3,150.............................................. 126.00 33
3,151 - 3,300.............................................. 132.00 34
3,301 - 3,450.............................................. 138.00 35
3,451 - 3,600.............................................. 144.00 36
3,601 - 3,750.............................................. 150.00 37
3,751 - 3,900.............................................. 156.00 38
3,901 - 4,050.............................................. 162.00 39
4,051 - 4,200.............................................. 168.00 40
4,201 - 4,350.............................................. 174.00 41
4,351 - 4,500.............................................. 180.00 42
4,501 - 4,650.............................................. 186.00 43
4,651 - 4,800.............................................. 192.00 44
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4,801 - 4,950.............................................. 198.00 45
4,951 - 5,100.............................................. 204.00 46
5,101 - 5,250.............................................. 210.00 47
5,251 - 5,400.............................................. 216.00 48
5,401 - 5,550.............................................. 222.00 49
5,551 - 5,700.............................................. 228.00 50
5,701 - 5,850.............................................. 234.00 51
5,851 - 6,000.............................................. 240.00 52
6,001 - 6,150.............................................. 246.00 53
6,151 - 6,300.............................................. 252.00 54
6,301 - 6,450.............................................. 258.00 55
6,451 - 6,600.............................................. 264.00 56
6,601 - 6,750.............................................. 270.00 57
6,751 - 6,900.............................................. 276.00 58
6,901 - 7,050.............................................. 282.00 59
7,051 - 7,200.............................................. 288.00 60
7,201 - 7,350.............................................. 294.00 61
7,351 and above............................................ 300.00 62
Assessed values shall be rounded to the next whole dollar 63
(Fifty Cents (50¢) rounded to the next highest dollar) for the 64
purposes of the above table. 65
One-half (1/2) of the exemption allowed in the above table 66
shall be from taxes levied for school district purposes and 67
one-half (1/2) shall be from taxes levied for county general fund 68
purposes. 69
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(2) (a) (i) Except as otherwise provided in this 70
subsection, qualified homeowners described in subsection (2) of 71
Section 27-33-67 shall be allowed an exemption from all ad valorem 72
taxes on not in excess of Seven Thousand Five Hundred Dollars 73
($7,500.00) of the assessed value of the homestead property. 74
(ii) Except as otherwise provided in this 75
subsection, from and after January 1, 2027, qualified homeowners 76
described in subsection (2) of Section 27-33-67 shall be allowed 77
an exemption from all ad valorem taxes on not in excess of 78
Fourteen Thousand Dollars ($14,000.00) of the assessed value of 79
the homestead property. 80
(b) From and after January 1, 2015, qualified 81
homeowners described in subsection (2)(a) of Section 27-33-67 and 82
unremarried surviving spouses of such homeowners shall be allowed 83
an exemption from all ad valorem taxes on the assessed value of 84
the homestead property. 85
(c) Except as otherwise provided in this paragraph (c), 86
a qualified homeowner claiming an exemption under paragraph (a) of 87
this subsection shall be allowed an additional exemption from all 88
ad valorem taxes on an amount equal to the difference between (i) 89
the assessed value of the homestead property on January 1, 2018, 90
or January 1 of the first year for which the qualified homeowner 91
claims an exemption for the homestead property under paragraph (a) 92
of this subsection, and (ii) any increase in the assessed value of 93
the homestead property resulting from a subsequent update in 94
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valuation of the homestead property that is completed during the 95
time the qualified homeowner owns the property. In addition, if a 96
subsequent update in valuation of the homestead property that is 97
completed during the time the qualified homeowner owns the 98
property results in the assessed value of the homestead property 99
being less than the assessed value of the property on January 1, 100
2018, or January 1 of the first year for which the qualified 101
homeowner claims an exemption for the homestead property under 102
paragraph (a) of this subsection, then the exemption authorized 103
under this paragraph (c) shall be on an amount equal to the 104
difference between (i) such lower assessed value and (ii) any 105
increase in the assessed value of the homestead property resulting 106
from a subsequent update in valuation of the homestead property 107
that is completed during the time the qualified homeowner owns the 108
property. However, except for renovations, expansions, 109
improvements or additions to promote energy efficiency, safety or 110
access to the homestead property, the exemption authorized in this 111
paragraph (c) shall not apply to any portion of increase in the 112
assessed value of the homestead property that is attributable to 113
renovations, expansions or improvements of or additions to the 114
property during such time. For the purposes of this paragraph 115
(c), an update in valuation of the homestead property occurs when 116
a county has completed an update in the valuation of Class I 117
property, as designated by Section 112, Mississippi Constitution 118
of 1890, in the county according to procedures prescribed by the 119
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Department of Revenue and in effect on January 1, 2018, and for 120
which the Department of Revenue has certified that such new 121
valuations have been implemented for the purposes of ad valorem 122
taxation. 123
(d) From and after January 1, 2023, a qualified 124
homeowner who is the unremarried surviving spouse of a member of 125
the United States Armed Forces who was killed or died on active 126
duty, or of a member of a reserve component of the United States 127
Armed Forces or of the National Guard who was killed or died on 128
active duty for training, shall be allowed an exemption from all 129
ad valorem taxes on the assessed value of the homestead property. 130
(e) (i) From and after January 1, 2025, a qualified 131
homeowner who is an American veteran who has been honorably 132
discharged from military service and has reached ninety (90) years 133
of age on or before January 1 of the year for which the exemption 134
is claimed, shall be allowed an exemption from all ad valorem 135
taxes on the assessed value of the homestead property. 136
(ii) From and after January 1, 2026, a qualified 137
homeowner who is the unremarried surviving spouse of a homeowner 138
described in subparagraph (i) of this paragraph (e) shall be 139
allowed an exemption from all ad valorem taxes on the assessed 140
value of the homestead property and unremarried surviving spouses 141
of homeowners classified as totally disabled under the federal 142
Social Security Act, Railroad Retirement Act, or any other federal 143
act approved by the Department of Revenue. 144
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(3) Except as otherwise provided in this subsection, this 145
section shall apply to exemptions claimed in the 2001 calendar 146
year for which reimbursement is made in the 2002 calendar year and 147
to exemptions claimed for which reimbursement is made in 148
subsequent years. The exemption provided for in subsection (2)(b) 149
of this section shall apply to exemptions claimed in the 2015 150
calendar year for which reimbursement is made in the 2016 calendar 151
year and to exemptions claimed for which reimbursement is made in 152
subsequent years. The exemption provided for in subsection (2)(c) 153
of this section shall apply to exemptions claimed in the 2018 154
calendar year for which reimbursement is made in the 2019 calendar 155
year and to exemptions claimed for which reimbursement is made in 156
subsequent years. The exemption provided for in subsection 157
(2)(e)(i) of this section shall apply to exemptions claimed in the 158
2025 calendar year for which reimbursement is made in the 2026 159
calendar year and to exemptions claimed for which reimbursement is 160
made in subsequent years. The exemption provided for in 161
subsection (2)(e)(ii) of this section shall apply to exemptions 162
claimed in the 2026 calendar year for which reimbursement is made 163
in the 2027 calendar year and to exemptions claimed for which 164
reimbursement is made in subsequent years. The exemption provided 165
for in subsection (2)(a)(ii) of this section shall apply to 166
exemptions claimed in the 2027 calendar year for which 167
reimbursement is made in the 2028 calendar year and to exemptions 168
claimed for which reimbursement is made in subsequent years. 169
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ST: Homestead exemption; increase for persons
65 years of age or older or totally disabled.
SECTION 2. This act shall take effect and be in force from 170
and after July 1, 2026. 171