MS HC16

Proposes amendment to Section 112 of the Mississippi Constitution of 1890 to reduce the assessment ratio for motor vehicles from 30% to 15% of true value for ad valorem taxation purposes.

Motor vehicles would be assessed at the same rate as Class II real property and Class III personal property under the amended constitutional framework.

Amendment maintains the existing five-class property assessment system with ratios for single-family residential (10%), other real property (15%), personal property (15%), public utility property (30%), and motor vehicles (15%).

Proposed amendment was scheduled to be submitted to qualified Mississippi electors at the general election on the first Tuesday after the first Monday of November 2018.

Ballot explanation for voters would state: "This proposed constitutional amendment reduces the assessment ratio of motor vehicles, for purposes of ad valorem taxation, from thirty percent (30%) to fifteen percent (15%) of true value."