Bill Text: MS HB511 | 2019 | Regular Session | Introduced

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Bill Title: Ad valorem tax; revise assessment rate for motor vehicles.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2019-02-27 - Died In Committee [HB511 Detail]

Download: Mississippi-2019-HB511-Introduced.html

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MISSISSIPPI LEGISLATURE

2019 Regular Session

To: Ways and Means

By: Representative Hopkins

House Bill 511

AN ACT TO AMEND SECTION 27-35-4, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT MOTOR VEHICLES SHALL BE ASSESSED AT THE RATE OF FIFTEEN PERCENT OF TRUE VALUE FOR AD VALOREM TAXATION PURPOSES AS SET FORTH IN SECTION 112, MISSISSIPPI CONSTITUTION OF 1890; TO PROVIDE THAT THIS ACT SHALL TAKE EFFECT AND BE IN FORCE FROM AND AFTER JANUARY 1 IN THE YEAR FOLLOWING THE YEAR IN WHICH THE SECRETARY OF STATE CERTIFIES THE PASSAGE OF THE CONSTITUTIONAL AMENDMENT PROPOSED TO SECTION 112, MISSISSIPPI CONSTITUTION OF 1890, IN HOUSE CONCURRENT RESOLUTION NO.     , 2019 REGULAR SESSION; AND FOR RELATED PURPOSES.

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  Section 27-35-4, Mississippi Code of 1972, is amended as follows:

     27-35-4.  (1)  All Class I property, as defined in Section 112, Mississippi Constitution of 1890, shall be assessed at the rate of ten percent (10%) of true value.

     (2)  All Class II property * * *and, Class III property and Class V property, as defined in Section 112, Mississippi Constitution of 1890, shall be assessed at the rate of fifteen percent (15%) of true value.

     (3)  All Class IV property * * *and Class V property, as defined in Section 112, Mississippi Constitution of 1890, shall be assessed at the rate of thirty percent (30%) of true value. 

     SECTION 2.  This act shall take effect and be in force from and after January 1 in the year following the year in which the Secretary of State certifies the passage of the constitutional amendment proposed in House Concurrent Resolution No.     , 2019 Regular Session.

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