MS HB375

Amends Mississippi Code Section 27-31-1 to add a new exemption (oo) exempting all real property from ad valorem taxation, excluding improvements on that property.

The exemption for land applies statewide and becomes effective January 1, 2024.

Improvements (buildings, structures, etc.) on real property remain subject to ad valorem taxation under this provision.

This exemption is added to Mississippi's existing list of tax-exempt property categories, which includes religious institutions, government property, agricultural equipment, and other specified exemptions.