Mississippi Legislature

2000 Regular Session

House Bill 1336

Instructions Bill Status Menu




Bill Text

History of Actions

Background

Title

Description: Ad valorem tax; require cities/counties to reduce millage rate for purposes of calculating proposed increase where assessed value increases.

Bill Text: [Introduced]

History of Actions:

102/21/00(H)Referred To Ways and Means
203/07/00(H)Died In Committee

Background Information:

Effective dateJuly 1, 2000
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredYes

House Committee:

Principal Author: Simpson

Additional Author: Barnett (116th)

Code Sections: A 021-0033-0045, A 027-0039-0307, A 027-0039-0317, A 027-0039-0320, A 027-0039-0321

Title: AN ACT TO AMEND SECTIONS 21-33-45, 27-39-307, 27-39-317, 27-39-320 AND 27-39-321, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IF BECAUSE OF AN INCREASE IN THE ASSESSED VALUATION OF A MUNICIPALITY OR COUNTY THE AD VALOREM TAX MILLAGE RATE FOR THE EXISTING FISCAL YEAR WILL GENERATE FUNDS FOR THE NEXT FISCAL YEAR IN EXCESS OF THAT GENERATED FOR THE EXISTING FISCAL YEAR, THEN FOR PURPOSES OF DETERMINING WHETHER THE RATE OR LEVY PROPOSED FOR THE NEXT FISCAL YEAR IS AN INCREASE FROM THE PREVIOUS YEAR, THE GOVERNING AUTHORITIES OF THE MUNICIPALITY OR BOARD OF SUPERVISORS OF THE COUNTY SHALL REDUCE THE AD VALOREM TAX MILLAGE RATE BY THE NECESSARY AMOUNT TO PROVIDE THAT THE REVENUE GENERATED FOR THE NEXT FISCAL YEAR IS THE SAME AS THAT GENERATED FOR THE EXISTING FISCAL YEAR AND USE SUCH REDUCED MILLAGE RATE AS THE BASIS TO DETERMINE WHETHER THE RATE OR LEVY PROPOSED FOR THE NEXT FISCAL YEAR IS AN INCREASE FROM THE PREVIOUS YEAR AND TO DETERMINE WHETHER ANY PROPOSED INCREASE IN REVENUE FOR THE NEXT FISCAL YEAR COMPLIES WITH CERTAIN LIMITATIONS ON AD VALOREM TAX REVENUE INCREASES; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/07/00 at 17:30.



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