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MS SB2503
Bill
Status
Failed
2/24/2021
Primary Sponsor
Michael McLendon
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AI Summary
- Real property located in an area annexed by a municipality would be exempt from all municipal ad valorem taxes for 12 months after the annexation date
- Motor vehicles registered to an address in a newly annexed area would also be exempt from all municipal ad valorem taxes for 12 months after annexation
- Amends Section 27-31-1 (property tax exemptions) and Section 27-51-41 (motor vehicle tax exemptions) of the Mississippi Code of 1972
- Provides a one-year transition period for property owners and vehicle owners before they become subject to municipal taxation after annexation
- Effective date: January 1, 2021
Legislative Description
Municipal ad valorem taxes; exempt real property and motor vehicles in an annexed area for 12 months after annexation.
Last Action
Died In Committee
2/24/2021
Committee Referrals
Finance1/18/2021
Full Bill Text
No bill text available