MS HB13

County boards of supervisors and municipal governing authorities may grant partial ad valorem tax exemptions on agricultural land being converted to residential use.

Exemption amount equals the difference between the assessed value for agricultural use and the assessed value for residential use.

Exemption terminates when the property is occupied by a homeowner; for multi-parcel developments, the exemption continues for each parcel until its residence is occupied.

Exemption requests must be submitted in writing with information required by the local board or governing authority, and approval must be recorded in official minutes.

Effective upon passage.