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MS SB3146
Bill
AI Summary
- County boards of supervisors and municipal governing authorities may grant partial ad valorem tax exemptions on nonresidential property being converted to residential use
- Exemption amount equals the difference between the assessed value for residential use and the assessed value for nonresidential use
- Exemption ends when the property is occupied by a homeowner; for multi-parcel properties, exemption continues for each parcel until its residence is occupied
- Exemption requests must be submitted in writing with information required by the county or municipality, and approval must be recorded in board/municipal minutes
- Act takes effect upon passage
Legislative Description
Ad valorem tax; authorize partial exemption for nonresidential use land that is converted to residential use.
Last Action
Died In Committee
2/23/2022
Committee Referrals
Finance2/18/2022
Full Bill Text
No bill text available