This pamphlet provides an overview of homestead filing. Topics covered include the purpose of homestead laws, general requirements, and homestead waivers.
Mississippi USLegal Pamphlet on Homestead Filing
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The property owner who applies for and is eligible to receive homestead exemption benefits, and who is also over sixty-five years of age or 100% disabled, is totally exempt from residential property taxes on the first $7,500 of assessed value of the property.
Applications for Homestead Exemption must be filed between January 1 and April 1. To apply for Homestead Exemption for the first time, you need to come to the Tax Assessor's Office (365 Losher Street, Suite 100, Hernando, MS 38632) and bring the following: A copy of your recorded Warranty Deed.
Generally speaking, you must refile your homestead exemption if there is a change in your property's deed.
"Homestead" generally refers to a family's dwelling and the land upon which the dwelling rests. Under Mississippi law, families have the right to keep a certain portion of their homestead exempt from creditors.
Homestead exemptions remove part of your home's value from taxation, so they lower your taxes. For example, your home is appraised at $100,000, and you qualify for a $25,000 exemption (this is the amount mandated for school districts), you will pay school taxes on the home as if it was worth only $75,000.
You do not have to apply for homestead exemption each year. You should re- apply if there were any changes in your homestead status (such as change in marital status, property ownership, etc.)
Homeowners typically apply one time for a homestead exemption through their county tax assessor's office. Once you go through the process and are approved, your homestead exemption automatically will roll over each year, provided that you continue to meet certain criteria.
A person requesting homestead exemption must make a written application, must be a natural person, the head of a family, have ownership and eligible property, occupy the dwelling as a home, and be a Mississippi resident.
Applications for Homestead Exemption must be filed between January 1 and April 1. To apply for Homestead Exemption for the first time, you need to come to the Tax Assessor's Office (365 Losher Street, Suite 100, Hernando, MS 38632) and bring the following: A copy of your recorded Warranty Deed.
Under Mississippi law, families have the right to keep a certain portion of their homestead exempt from creditors. Specifically, the law exempts 160 acres or $75,000 in equity, whichever is lower, from the reach of creditors.