MS HB1571

Caps annual increases in assessed value for agricultural property and commercial poultry houses at 10% above the prior year's assessed value, regardless of actual property value increases.

Exempts the difference between true value assessment and the 10%-capped assessment from ad valorem taxation.

Does not affect existing tax claims, assessments, appeals, or liens accrued before the effective date.

Takes effect January 1, 2011.