MS HB933

Exempts personal property owned by business enterprises (corporations, LLCs, partnerships, sole proprietorships) from ad valorem taxes if the property has a true value of $25.00 or less, effective January 1, 2026.

Applies only to furniture, fixtures, and equipment classified as personal property that is used solely on the business premises in operation of the enterprise.

Excludes motor vehicles, Class IV property as defined in the Mississippi Constitution, and property eligible for ad valorem tax credits under Section 27-7-22.5.

Takes effect July 1, 2025.