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MS SB2687
Bill
AI Summary
- Amends Mississippi Code Section 27-35-50 to remove provisions prescribing how affordable rental housing appraisals must be conducted for ad valorem tax purposes.
- Maintains existing requirements that tax assessors consider income capitalization, cost approach, and market data approaches when determining property true value.
- Preserves current use valuation rules for Class I and Class II property and agricultural land, including specific capitalization rates and moving averages.
- Takes effect January 1, 2010.
Legislative Description
Ad valorem taxes; remove the provision that prescribes the manner in which affordable rental housing must be appraised.
Last Action
Died In Committee
2/24/2010
Full Bill Text
No bill text available