Bill Text | History of Actions | Background | Title |
Description: Ad valorem taxation; revise manner of determining true value of homestead property.
Bill Text: [Introduced]
| 1 | 01/15 (H) Referred To Ways and Means | |
| 2 | 02/21 (H) Died In Committee |
| Effective date | July 1, 2007 | |
| Disposition | Dead | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: Moore
Code Section: A 027-0035-0050
Title: AN ACT TO AMEND SECTION 27-35-50, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IN DETERMINING THE TRUE VALUE OF CLASS I PROPERTY THAT IS HOMESTEAD PROPERTY, THE TRUE VALUE PLACED ON SUCH PROPERTY SHALL NOT BE INCREASED ABOVE THE VALUE OF THE PROPERTY FOR THE PRECEDING YEAR IF TITLE TO THE PROPERTY HAS NOT CHANGED FROM THE PRECEDING YEAR; TO PROVIDE THAT SUCH VALUE SHALL NOT CHANGE UNLESS TITLE TO THE PROPERTY CHANGES BY SALE OR ANY OTHER MEANS OF TRANSFER; TO PROVIDE THAT IF TITLE TO THE PROPERTY CHANGES BY SALE, THE TRUE VALUE OF THE PROPERTY WILL BE THE AMOUNT FOR WHICH THE PROPERTY WAS SOLD AND THAT IF TITLE TO THE PROPERTY CHANGES BY SOME MEANS OTHER THAN SALE, THE TRUE VALUE WILL BE DETERMINED IN THE MANNER AS OTHERWISE PROVIDED BY LAW; AND FOR RELATED PURPOSES.
End Of Document
2007/html/History/HB/HB1075.htm