FINANCIAL ADVANTAGE
Additional Benefits for Mississippi Veterans
Mississippi Veterans and their families may qualify for valuable state benefits that can reduce property taxes, lower higher-education costs, and make purchasing a home more affordable. Understanding the Mississippi disabled Veteran benefits available to you—from property tax exemptions to education assistance and state homebuyer programs—can help you make the most of the benefits you’ve earned through military service.
Tax Relief
Property Tax Exemptions for Veterans in Mississippi
- Qualifying service-connected totally disabled Veterans can receive a full property tax exemption on their homestead. Mississippi's highest homestead exemption tier exempts qualifying honorably discharged Veterans classified as having a service-connected total disability from all property taxes on their qualifying homestead.
- The exemption can continue for an eligible surviving spouse. Mississippi extends the total homestead exemption to the unremarried surviving spouse of a qualifying service-connected totally disabled Veteran. Applications are filed through the Tax Assessor's office in the county where the home is located.
Family Tuition Assistance
Education Benefits for Mississippi Veterans & Families
- Children of qualifying POW or MIA service members can attend Mississippi public colleges without tuition costs. Children of Armed Forces members whose official home of record and residence is Mississippi and who are officially reported as a prisoner of war or missing in action can receive an eight-semester scholarship at a state-supported Mississippi college or university.
- Veterans and other qualifying military-connected students can receive in-state tuition. Mississippi authorizes in-state tuition for Veterans as defined under Title 38 of the U.S. Code and individuals entitled to qualifying federal Veterans' educational assistance. Military personnel stationed in Mississippi are also classified as residents for tuition purposes at state colleges and universities.
Home Financing
Home Loan Benefits for Mississippi Veterans
- Veterans receive special eligibility under Mississippi Home Corporation mortgage programs. MHC's Trusty10 program provides a 30-year fixed-rate mortgage and supports financing including VA loans. Veterans are specifically exempt from the program's normal first-time-homebuyer requirement, subject to income, credit, occupancy, and other program requirements.
- Qualifying buyers can receive $10,000 toward down-payment and closing costs. Trusty10 provides $10,000 in assistance through a second mortgage that can be applied toward the down payment, closing costs, or prepaid expenses. The second mortgage currently carries a 2% interest rate with a 15-year term.