Homestead exemption; increase for persons 65 years of age or older or totally disabled.

HB 648 would amend Mississippi law to provide full exemption from ad valorem property taxes for homeowners aged 65 or older or who are totally disabled. Currently, these homeowners receive a partial exemption based on a table of assessed values (capping at $7,500), but this bill would eliminate that cap starting January 1, 2026, exempting the entire assessed value of their homestead property. The change applies directly to eligible seniors and disabled homeowners who own their primary residence, removing the current $7,500 limit on the tax exemption. It does not affect current exemption levels or other provisions like surviving spouses.