Homestead Exemption; increase for certain lineal descendants of previous owners of homestead property.

HB 4007 increases homestead property tax exemptions for lineal descendants (like children or grandchildren) of original owners who have lived in the property as their primary residence for at least 15 years. It provides an additional tax exemption on the *increase* in a home's assessed value resulting from a reassessment after the 15-year mark, beyond the standard homestead exemption. This applies only to the tax increase from valuation updates during the descendant's ownership period, not the full property value. The bill directly affects qualifying long-term family homeowners in Mississippi seeking relief from rising property taxes on inherited homes.