Homestead exemption; provide on full value of home for homeowners 65 & older, unremarried spouses, and military.

SB 3162 expands Mississippi's homestead property tax exemption to cover three new groups: homeowners aged 65 or older, their unremarried surviving spouses, and honorably discharged veterans or active-duty military members. The bill replaces the current tiered exemption system (which capped relief at $7,500) with a full exemption from all property taxes on the home's full assessed value for these qualifying individuals. This means eligible homeowners in these categories would pay $0 in property taxes on their primary residence, rather than the partial relief under existing law. The change applies to all property taxes (including school and county taxes) and takes effect upon the homeowner claiming the exemption.