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MS HB987
Bill
Status
Failed
2/27/2019
Primary Sponsor
Greg Snowden
Click for details
AI Summary
- Allows county boards of supervisors and/or municipal governing authorities to grant partial ad valorem tax exemptions on agricultural property 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, exemption continues for each parcel until its residence is occupied
- Exemption requests must be submitted in writing with information required by the county board or municipality, and approvals must be recorded in official minutes
- Takes effect upon passage
Legislative Description
Ad valorem tax; authorize partial exemption for agricultural land that is converted to a residential use.
Last Action
Died In Committee
2/27/2019
Committee Referrals
Ways and Means1/21/2019
Full Bill Text
No bill text available