Bill Text: MS HB4007 | 2026 | Regular Session | Introduced
Bill Title: Homestead Exemption; increase for certain lineal descendants of previous owners of homestead property.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2026-02-25 - Died In Committee [HB4007 Detail]
Download: Mississippi-2026-HB4007-Introduced.html
MISSISSIPPI LEGISLATURE
2026 Regular Session
To: Ways and Means
By: Representative Evans
House Bill 4007
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.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-33-75, Mississippi Code of 1972, is amended as follows:
27-33-75. (1) Qualified homeowners described in subsection (1) of Section 27-33-67 shall be allowed an exemption from ad valorem taxes according to the following table:
ASSESSED VALUE HOMESTEAD
OF HOMESTEAD EXEMPTION
$ 1 - $ 150........................................... $ 6.00
151 - 300........................................... 12.00
301 - 450........................................... 18.00
451 - 600........................................... 24.00
601 - 750........................................... 30.00
751 - 900........................................... 36.00
901 - 1,050........................................... 42.00
1,051 - 1,200........................................... 48.00
1,201 - 1,350........................................... 54.00
1,351 - 1,500........................................... 60.00
1,501 - 1,650........................................... 66.00
1,651 - 1,800........................................... 72.00
1,801 - 1,950........................................... 78.00
1,951 - 2,100........................................... 84.00
2,101 - 2,250........................................... 90.00
2,251 - 2,400........................................... 96.00
2,401 - 2,550........................................... 102.00
2,551 - 2,700........................................... 108.00
2,701 - 2,850........................................... 114.00
2,851 - 3,000........................................... 120.00
3,001 - 3,150........................................... 126.00
3,151 - 3,300........................................... 132.00
3,301 - 3,450........................................... 138.00
3,451 - 3,600........................................... 144.00
3,601 - 3,750........................................... 150.00
3,751 - 3,900........................................... 156.00
3,901 - 4,050........................................... 162.00
4,051 - 4,200........................................... 168.00
4,201 - 4,350........................................... 174.00
4,351 - 4,500........................................... 180.00
4,501 - 4,650........................................... 186.00
4,651 - 4,800........................................... 192.00
4,801 - 4,950........................................... 198.00
4,951 - 5,100........................................... 204.00
5,101 - 5,250........................................... 210.00
5,251 - 5,400........................................... 216.00
5,401 - 5,550........................................... 222.00
5,551 - 5,700........................................... 228.00
5,701 - 5,850........................................... 234.00
5,851 - 6,000........................................... 240.00
6,001 - 6,150........................................... 246.00
6,151 - 6,300........................................... 252.00
6,301 - 6,450........................................... 258.00
6,451 - 6,600........................................... 264.00
6,601 - 6,750........................................... 270.00
6,751 - 6,900........................................... 276.00
6,901 - 7,050........................................... 282.00
7,051 - 7,200........................................... 288.00
7,201 - 7,350........................................... 294.00
7,351 and above......................................... 300.00
Assessed values shall be rounded to the next whole dollar (Fifty Cents (50�) rounded to the next highest dollar) for the purposes of the above table.
One-half (1/2) of the exemption allowed in the above table shall be from taxes levied for school district purposes and one-half (1/2) shall be from taxes levied for county general fund purposes.
(2) (a) Except as otherwise provided in this subsection, qualified homeowners described in subsection (2) of Section 27-33-67 shall be allowed an exemption from all ad valorem taxes on not in excess of Seven Thousand Five Hundred Dollars ($7,500.00) of the assessed value of the homestead property.
(b) From and after January 1, 2015, qualified homeowners described in subsection (2)(a) of Section 27-33-67 and unremarried surviving spouses of such homeowners shall be allowed an exemption from all ad valorem taxes on the assessed value of the homestead property.
(c) Except as otherwise provided in this paragraph (c), a qualified homeowner claiming an exemption under paragraph (a) of this subsection shall be allowed an additional exemption from all ad valorem taxes on an amount equal to the difference between (i) the assessed value of the homestead property on January 1, 2018, or January 1 of the first year for which the qualified homeowner claims an exemption for the homestead property under paragraph (a) of this subsection, and (ii) any increase in the assessed value of the homestead property resulting from a subsequent update in valuation of the homestead property that is completed during the time the qualified homeowner owns the property. In addition, if a subsequent update in valuation of the homestead property that is completed during the time the qualified homeowner owns the property results in the assessed value of the homestead property being less than the assessed value of the property on January 1, 2018, or January 1 of the first year for which the qualified homeowner claims an exemption for the homestead property under paragraph (a) of this subsection, then the exemption authorized under this paragraph (c) shall be on an amount equal to the difference between (i) such lower assessed value and (ii) any increase in the assessed value of the homestead property resulting from a subsequent update in valuation of the homestead property that is completed during the time the qualified homeowner owns the property. However, except for renovations, expansions, improvements or additions to promote energy efficiency, safety or access to the homestead property, the exemption authorized in this paragraph (c) shall not apply to any portion of increase in the assessed value of the homestead property that is attributable to renovations, expansions or improvements of or additions to the property during such time. For the purposes of this paragraph (c), an update in valuation of the homestead property occurs when a county has completed an update in the valuation of Class I property, as designated by Section 112, Mississippi Constitution of 1890, in the county according to procedures prescribed by the Department of Revenue and in effect on January 1, 2018, and for which the Department of Revenue has certified that such new valuations have been implemented for the purposes of ad valorem taxation.
(d) From and after January 1, 2023, a qualified homeowner who is the unremarried surviving spouse of a member of the United States Armed Forces who was killed or died on active duty, or of a member of a reserve component of the United States Armed Forces or of the National Guard who was killed or died on active duty for training, shall be allowed an exemption from all ad valorem taxes on the assessed value of the homestead property.
(e) (i) From and after January 1, 2025, a qualified homeowner who is an American veteran who has been honorably discharged from military service and has reached ninety (90) years of age on or before January 1 of the year for which the exemption is claimed, shall be allowed an exemption from all ad valorem taxes on the assessed value of the homestead property.
(ii) From and after January 1, 2026, a qualified homeowner who is the unremarried surviving spouse of a homeowner described in subparagraph (i) of this paragraph (e) shall be allowed an exemption from all ad valorem taxes on the assessed value of the homestead property and unremarried surviving spouses of homeowners classified as totally disabled under the federal Social Security Act, Railroad Retirement Act, or any other federal act approved by the Department of Revenue.
(f) From and after January 1, 2026, a qualified homeowner who meets the eligibility requirements prescribed under this paragraph (f) shall be allowed, following an increase in the assessed value of the homestead property resulting from each subsequent update in valuation, an additional exemption from all ad valorem taxes on the amount equal to the updated assessed value of the homestead property which exceeds an amount equal to one hundred ten percent (110%) of the average assessed value of the homestead property during those years that the homestead property has been owned, without interruption, by the lineal descendants of the current property owner. In order to be eligible for the exemption authorized under this paragraph (f), the qualified homeowner must be a lineal descendant of the previous owner or owners of the homestead property, which must have been the homestead property in the lineal line of ancestry of the qualified homeowner for no less than the preceding fifteen (15) consecutive years. For the purposes of this paragraph (f), an update in valuation of the homestead property occurs when a county has completed an update in the valuation of Class I property, as designated by Section 112, Mississippi Constitution of 1890, in the county according to procedures prescribed by the Department of Revenue and in effect on January 1, 2026, and for which the Department of Revenue has certified that such new valuations have been implemented for the purposes of ad valorem taxation.
(3) Except as otherwise provided in this subsection, this section shall apply to exemptions claimed in the 2001 calendar year for which reimbursement is made in the 2002 calendar year and to exemptions claimed for which reimbursement is made in subsequent years. The exemption provided for in subsection (2)(b) of this section shall apply to exemptions claimed in the 2015 calendar year for which reimbursement is made in the 2016 calendar year and to exemptions claimed for which reimbursement is made in subsequent years. The exemption provided for in subsection (2)(c) of this section shall apply to exemptions claimed in the 2018 calendar year for which reimbursement is made in the 2019 calendar year and to exemptions claimed for which reimbursement is made in subsequent years. The exemption provided for in subsection (2)(e)(i) of this section shall apply to exemptions claimed in the 2025 calendar year for which reimbursement is made in the 2026 calendar year and to exemptions claimed for which reimbursement is made in subsequent years. The exemption provided for in subsections (2)(e)(ii) and (2)(f) of this section shall apply to exemptions claimed in the 2026 calendar year for which reimbursement is made in the 2027 calendar year and to exemptions claimed for which reimbursement is made in subsequent years.
SECTION 2. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the ad valorem tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the ad valorem tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.
SECTION 3. This act shall take effect and be in force from and after January 1, 2026.
