State
Mississippi
Year
2010
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_RR10