MS SB2172

Amends Section 27-35-50 of the Mississippi Code to remove provisions prescribing how affordable rental housing appraisals must be conducted for ad valorem taxation purposes.

Maintains existing requirements that tax assessors consider income capitalization, cost approach, and market data approaches when determining true value of property.

Preserves current use valuation requirements for Class I and Class II property and agricultural land, including specific appraisal methods and capitalization rates.

Effective January 1, 2011.