Homestead exemption; increase for honorably discharged veterans age 85 or older and unremarried surviving spouses of such persons.

HB 420 increases homestead tax exemptions for Mississippi veterans aged 85 or older who were honorably discharged, and their unremarried surviving spouses. Currently, most homeowners receive capped tax exemptions (up to $288 for properties valued at $7,200+), but this bill removes that cap for eligible veterans and surviving spouses. It ensures they receive full exemption from all property taxes on the entire assessed value of their homestead property, not just a portion. This change directly affects qualifying elderly veterans and their surviving spouses who own homes in Mississippi. The bill amends Mississippi Code Section 27-33-75 to expand existing veteran homestead protections.