MS HB8

Provides a partial ad valorem tax exemption for eligible personal property owned and used by business enterprises, effective January 1, 2015.

Exempts up to $20,000 of assessed value per business on furniture, fixtures, and equipment classified as personal property for ad valorem taxation purposes.

Excludes motor vehicles, Class IV property as defined in the Mississippi Constitution, and property eligible for income tax credits under Section 27-7-22.5 from the exemption.

Does not affect any tax claims, assessments, appeals, or liens that accrued before the effective date, which remain subject to existing ad valorem tax laws.