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MS HB554

Bill

Official Source

Status

Failed

2/23/2022

Primary Sponsor

Steve Hopkins

Click for details

Origin

House of Representatives

2022 Regular Session

AI Summary

  • Amends Section 27-35-4 of the Mississippi Code to change the ad valorem tax assessment rate for motor vehicles (Class V property) from 30% to 15% of true value
  • Maintains the 10% assessment rate for Class I property and keeps the 15% rate for Class II and III property
  • Changes Class IV property assessment rate to 30% of true value (removing Class V from this category)
  • Effective date is January 1 of the year following Secretary of State certification of a related constitutional amendment in House Concurrent Resolution No. ___, 2022 Regular Session

Legislative Description

Ad valorem tax; revise assessment rate for motor vehicles.

Last Action

Died In Committee

2/23/2022

Committee Referrals

Ways and Means1/13/2022

Full Bill Text

No bill text available