MS HB1851

Exempts tractors, agricultural implements and equipment, and vehicles from ad valorem taxation when held by bona fide dealers as merchandise on a floor plan, consignment, or other basis.

Exemption applies only to items not already exempt under Section 27-51-41(2).

Adds this exemption as subsection (oo) to Section 27-31-1, Mississippi Code of 1972, which lists all properties exempt from taxation.

Takes effect January 1, 2026.