What is Homestead Exemption?

What is Homestead Exemption?

The Mississippi Tax Commission performs two functions in reference to homestead exemption. The first function is to determine the eligibility of taxpayers who wish to obtain an exemption from ad valorem property taxes. The second function is to reimburse the taxing unit who suffers a tax loss because of its exemption. Homestead Exemption is a privilege offered to eligible taxpayers by the State of Mississippi. It is very important to remember that the exemption is not granted automatically. You must file an application and each taxpayer must qualify for the exemption. You have from January 2nd – April 1st to file your homestead tax exemption. Below are details of how to qualify and what you’ll need to provide when filing. Should you have further questions about any of these details, you can refer to the Homestead Exemption FAQ page found on the ms.gov Department of Revenue website.

In Mississippi, you are elegible to file your Homestead Tax Exemption in 2024 IF any of the following changes were made in 2023:

• You bought property and it is your primary home
• If you sold part of your homestead property
• If you bought more acres and want to add it to the existing homestead
• If you married or divorced, or became widowed
• If you became disabled
• If you celebrated your 65th birthday

There are things you are going to want to have with you when you go to make this process as easy as it can be.

• Recorded deed filed in 2023
• Closing Disclosure
• Social Security numbers for you (and spouse, if applicable)
• Tag numbers of all privately owned vehicles in your name
• If you are 65 or older, Driver’s License or Birth Certificate
• If disabled: TPQY form from SS Administration stating:
  • your name and SS number
  • Entitlement or eligibility date

The process of filing your Homestead Tax Exemption is very simple. However, if you need any assistance, call your ERA agent!