Mississippi Legislature

1997 Regular Session

House Bill 731

[Introduced]

Instructions Bill Status Menu





History of Actions

Background

Title

Description: Ad valorem taxes; require municipality to reduce millage rate when property within municipality is assessed at higher rate.

History of Actions:

101/07/97(H)Referred To Ways and Means
202/26/97(H)Died In Committee

Background Information:

Effective dateJanuary 1, 1997
DispositionDead
DeadlineRevenue/Appropriation
RevenueYes
3/5ths vote requiredYes

House Committee:

Principal Author: Guice

Code Sections: A 021-0033-0045, A 027-0039-0307, A 027-0039-0203, A 027-0039-0205, A 027-0039-0320, A 027-0039-0321

Title: AN ACT TO AMEND SECTIONS 21-33-45 AND 27-39-307, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IN THE CASE WHERE, BECAUSE OF AN INCREASE IN THE ASSESSED VALUATION OF A MUNICIPALITY DUE TO A REAPPRAISAL DIRECTED BY THE STATE TAX COMMISSION, THE AD VALOREM TAX MILLAGE RATE FOR THE CURRENTLY EXISTING FISCAL YEAR WILL GENERATE FUNDS FOR THE NEXT FISCAL YEAR IN AN AMOUNT GREATER THAN THE DOLLAR AMOUNT GENERATED BY THE AD VALOREM TAX EFFORT FOR THE CURRENTLY EXISTING FISCAL YEAR, THE GOVERNING AUTHORITIES OF SUCH MUNICIPALITY SHALL BE REQUIRED TO REDUCE THE AD VALOREM TAX MILLAGE RATE FOR THE NEXT FISCAL YEAR SUCH THAT THE DOLLAR AMOUNT GENERATED BY THE AD VALOREM TAX EFFORT FOR THE NEXT FISCAL YEAR WILL NOT EXCEED THE DOLLAR AMOUNT GENERATED BY THE AD VALOREM TAX EFFORT FOR THE CURRENTLY EXISTING FISCAL YEAR; TO AMEND SECTIONS 27-39-203, 27-39-205, 27-39-320 AND 27-39-321, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/27/97 at 10:33.



End Of Document

1997/History/HB\HB0731.htm