Bill Text: MS HB1521 | 2016 | Regular Session | Introduced
Bill Title: Ad valorem tax; create 10% cap on increase in assessed value of agricultural property and commercial poultry houses.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2016-03-16 - Died In Committee [HB1521 Detail]
Download: Mississippi-2016-HB1521-Introduced.html
MISSISSIPPI LEGISLATURE
2016 Regular Session
To: Revenue and Expenditure General Bills
By: Representative Eaton
House Bill 1521
AN ACT TO PROVIDE THAT THE ASSESSED VALUE OF AGRICULTURAL PROPERTY OR PROPERTY USED FOR OR IN ASSOCIATION WITH COMMERCIAL POULTRY HOUSES MAY NOT BE INCREASED MORE THAN 10% ABOVE THE ASSESSED VALUE OF THE PROPERTY FOR THE NEXT PRECEDING YEAR FOR PURPOSES OF AD VALOREM TAXATION; TO GRANT AN EXEMPTION FROM AD VALOREM TAXES IN THE AMOUNT OF THE DIFFERENCE BETWEEN THE ASSESSMENT OF AGRICULTURAL PROPERTY OR PROPERTY USED FOR OR IN ASSOCIATION WITH COMMERCIAL POULTRY HOUSES AT TRUE VALUE AND THE ASSESSMENT SUBJECT TO THE 10% LIMITATION; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) In assessing property for purposes of ad valorem taxation, the assessed value of property classified as agricultural or property used for or in association with commercial poultry houses may not be increased more than ten percent (10%) above the assessed value of such property for the next preceding year. The ten percent (10%) increase limitation prescribed in this subsection (1) shall apply regardless of whether the true value of the property increased more than ten percent (10%) above the true value of such property for the next preceding year.
(2) The difference between the assessment of agricultural property or property used for or in association with commercial poultry houses at true value and the assessment subject to the ten percent (10%) limitation, as specified in subsection (1) of this section, shall be exempt from ad valorem taxation.
SECTION 2. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the ad valorem tax laws before the date on which this act becomes effective, whether such claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun thereafter; and the provisions of the ad valorem tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under such laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with such laws.
SECTION 3. This act shall take effect and be in force from and after January 1, 2017.
