MS SB3019

Exempts from ad valorem (property) taxation all personal property owned or leased by an individual or entity when the total tax revenue produced by such property is $100.00 or less

Amends Section 27-31-1 of the Mississippi Code of 1972, which lists all property tax exemptions in the state

Adds this exemption to an existing list that already includes items such as household furniture, livestock, farming equipment, fishing boats, and various types of property owned by religious, charitable, and educational organizations

Effective date of July 1, 2017