Homestead Exemption for Seniors or the Disabled

State

Mississippi

Year

2006

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Exemption

Benefit

Eligible applicants qualify for an exemption of $7,500 from the assessed value of their homestead.

How is Benefit Disbursed

Exemption from assessed value

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Disability

Homeowner

Principal Residence

Description of Eligibility Criteria

Eligible taxpayers must be at least 65 years old or totally disabled. In addition, they must occupy the qualifying property as their primary residence. Taxpayers claiming the exemption because of a disability must present proof of any of the following: (1) a service-connected total disability as an American veteran who has been honorably discharged from military service; (2) classification as totally disabled under the Federal Social Security Act or the Railroad Retirement Act; (3) classification as totally disabled under the provisions under a retirement plan that is qualified under the United States Internal Revenue Code; or (4) classification as totally disabled by the State Tax Commission.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

State and local government share the local tax loss

Description of State Funding for Tax Loss

The state helps cover the cost of providing the exemption by reimbursing municipalities at a rate of $200 per qualifying taxpayer, and counties and school districts at a rate of $50 per qualifying taxpayer.

Record ID

MS102_RR06

Footnotes

Property owned jointly by a husband and wife and property owned in fee simple by either spouse is eligible for this exemption in full, as long as either spouse fulfills the age or disability requirement. For all other jointly owned property, the amount of the exemption is determined on the basis of each owner's qualifications and pro rata share of the property.

Sources

Miss. Code Ann. § 27-33-19 (in effect for 2006); Miss. Code Ann. § 27-33-67 (2) (in effect for 2006); Miss. Code Ann. § 27-33-75 (in effect for 2006); Miss. Code Ann. § 27-33-77 (in effect for 2006)
Mississippi State Tax Commission Homestead Exemption Division Rules and Regulations (no date), Northwest Mississippi Association of Realtors [http://www.nwmar.com/nwmar.homestead_files/homesteaed%20rule1hst.pdf Accessed on 04/22/2010] View Archived Source

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