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MS HB47

Bill

Official Source

Status

Failed

2/26/2014

Primary Sponsor

Greg Snowden

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Authorizes county boards of supervisors and municipal governing authorities to grant partial ad valorem tax exemptions on agricultural land being converted to residential use
  • Exemption amount equals the difference between the assessed value of the property for agricultural use and its assessed value for residential use
  • Exemption terminates when the property is occupied by a homeowner, or for multi-parcel developments, when each individual residence is occupied
  • Requires exemption requests to be submitted in writing with information required by the county or municipality, and must be recorded in official minutes
  • Takes effect upon passage

Legislative Description

Ad valorem tax; authorize partial exemption for agricultural land that is converted to a residential use.

Last Action

Died In Committee

2/26/2014

Committee Referrals

Ways and Means1/7/2014

Full Bill Text

No bill text available