MS HB1521

Limits annual increases in assessed value of agricultural property and commercial poultry houses to a maximum of 10% above the prior year's assessed value, regardless of actual market value changes.

Exempts the difference between true value assessment and the 10% capped assessment from ad valorem taxation.

Does not affect any tax claims, assessments, appeals, or suits for taxes accrued before the effective date.

Effective January 1, 2017.