HB 1345 would create a program providing rebates to Mississippi residents aged 65 or older (or widows/widowers aged 50+ or permanently disabled persons aged 18+) for a portion of their annual property taxes or rent paid on their primary residence (homestead). The bill specifies a 20% rebate on eligible property taxes or rent, with income limits adjusted yearly based on the Consumer Price Index. Claimants would need to file applications by June 30 each year (with late filings accepted until December 31 if funds remain), providing proof of age, income, and housing costs. Funding would initially come from general state appropriations but shift to lottery proceeds after July 1, 2028, as outlined in the bill's provisions.
HB 1255 increases the homestead property tax exemption for Mississippi homeowners aged 65 or older. Starting January 1, 2026, qualifying seniors will receive an exemption covering up to $12,500 of their home's assessed value (up from the current $7,500 limit for this group). This applies to primary residences (homestead property) and reduces property taxes levied for both school districts and county general funds. The change affects Mississippi residents aged 65+ who own and occupy their primary home as of the tax year.
HB 1469 reorganizes existing Mississippi law (Section 27-35-50) that governs how property values are determined for ad valorem taxation. It specifies that tax assessors must consider different valuation methods (like market data, income capitalization, or cost approaches) based on property type, with special rules for agricultural land (using current use and soil productivity), affordable rental housing (based on net operating income), and port ground leases. The bill directly affects property owners, tax assessors, and local governments by standardizing valuation procedures without changing tax rates. It did not create new taxes but clarified how property values - especially for farms and affordable housing - are calculated for tax purposes.
SB 2992 increases Mississippi's homestead property tax exemption from $7,500 to $20,000 of a home's assessed value. This directly affects qualifying homeowners, including heads of families, seniors aged 65+, service-connected disabled veterans, and individuals with federal disability status, who can exempt the first $20,000 of their home's value from property taxes. The bill amends existing tax code sections to raise the exemption limit and clarifies eligibility rules for joint ownership and specific tax categories like school levies. It does not change how exemptions are claimed or affect property values beyond the new $20,000 threshold. The bill died in committee in 2025 and did not become law.
HB 1278 establishes the Hometown Heroes Home Loan Guaranty Program to help eligible firefighters, law enforcement officers, nurses, and teachers secure conventional home loans for their primary residence. To qualify, applicants must have at least four years of continuous full-time employment in their profession and certify they will apply for homestead exemption. The program creates a dedicated "Hometown Heroes Home Loan Guaranty Fund" in the state treasury, administered by the Department of Finance and Administration, which will provide loan guarantees using state appropriations without lapsing unspent funds at year-end. This fund will cover loan guaranties for qualified individuals seeking conventional financing for home purchases.
HB 431 creates a pilot program providing low-interest loans (1% annual interest) to homeowners in Mississippi's 10 poorest counties, as defined by U.S. Census data. Eligible applicants must have a household income under $30,000 annually, own the property they wish to repair or build on, and have been denied conventional loans in the past year. The program is funded by $3 million in state bonds, repaid through new fees collected when recording property deeds and deeds of trust, which will be deposited into a dedicated sinking fund. The Mississippi Development Authority will administer the program and establish rules for implementation.
