2007 Regular Session
To: Municipalities; Ways and Means
By: Representative Gunn
AN ACT TO AMEND SECTION 27-35-3, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT WHEN A MUNICIPALITY EXTENDS ITS CORPORATE LIMITS AFTER JANUARY 1, 2008, OR AFTER JANUARY 1 OF ANY YEAR THEREAFTER, THE MUNICIPALITY MAY ASSESS THE ANNEXED PROPERTY AND COLLECT AD VALOREM TAXES FOR THE CURRENT YEAR BASED ON THE RATIO THAT THE NUMBER OF MONTHS REMAINING IN THE CALENDAR YEAR AFTER THE EXTENSION OF CORPORATE LIMITS BEARS TO THE TOTAL NUMBER OF MONTHS IN THE CALENDAR YEAR; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-35-3, Mississippi Code of 1972, is amended as follows:
27-35-3. All taxable real property situated in the state acquired or held by any person before January 1 of each year, and all other taxable property so situated or brought into this state at any time prior to March 1 of each year, shall be assessed and taxes thereon paid for the ensuing year with the exception of heavy duty equipment as defined in Section 27-35-1(2). Heavy duty equipment shall be assessed and taxes thereon paid at any time such equipment is acquired or brought into this state for use as construction equipment, and such assessment shall be prorated with respect to the number of months remaining in the year. Such other property shall not be assessed by more than one (1) county, and such county in which said property was located at the earliest taxable date in any year shall have priority in the assessment of such taxes.
Provided, however, that when a municipality is created or the corporate limits thereof extended after January 1 of any year it shall have, prior to July 1 of said year, the full right and power to assess said property and collect taxes for the current year to the same extent as if it had been created or limits extended prior to January 1 of that year. However, when a municipality extends its corporate limits after January 1, 2008, or after January 1 of any year thereafter, the municipality may assess the property and collect ad valorem taxes for the current year based on the ratio that the number of full months remaining in the calendar year after the extension of corporate limits bears to the total number of months in the calendar year.
Nothing in this section shall be construed to limit the power of the state to define and declare the situs of particular species of property having no fixed situs at some place in this state.
SECTION 2. This act shall take effect and be in force from and after July 1, 2007.