Mississippi Senate Bill 2968

---

Spectrum: Partisan Bill (Republican 22-0)
Status: Introduced on February 12 2025 - 25% progression
Action: 2025-02-12 - Referred To Finance
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Amend Section 27-35-50, Mississippi Code Of 1972, To Specify Provisions For Determining The True Value Of Rural Structures For Ad Valorem Tax Assessment Purposes; To Require That The True Value Of Any Rural Structure Appraised Before January 1, 2025, Be Recalculated For 2025 And Subsequent Tax Years In Accordance With This Act, Beginning With A Reappraisal Of The True Value As Of The Year Of The Initial Appraisal; To Require The Tax Assessor, In Arriving At The True Value Of A Rural Structure In Operation On Or Before January 1, 2025, To Follow The Guidelines In The Department Of Revenue Appraisal Manual In Use Immediately Prior To The Version Revised December 2020; To Require The Tax Assessor, In Arriving At The True Value Of A Rural Structure Placed In Operation After January 1, 2025, To Follow The Guidelines In The Most Current Version Of The Department Of Revenue Appraisal Manual; To Provide That, After The Initial Appraisal, The True Value Of Such A Rural Structure Shall Be Based Solely On Depreciation At A Rate Of 7% Per Year; To Provide That Net Depreciation Shall Not Fall Below 20% Of The Original True Value Of The Rural Structure; To Require That An Adjustment Of 45% For Economic Obsolescence Be Applied To All Poultry Houses Used In Commercial Farming Operations; And For Related Purposes.

Ad valorem tax; specify provisions for determining the true value of rural structures.

Sen. Brian Rhodes [R]	Sen. Jeff Tate [R]	Sen. Dean Kirby [R]	Sen. Kevin Blackwell [R]
Sen. Walter Michel [R]	Sen. Chad Mcmahan [R]	Sen. Lydia Chassaniol [R]	Sen. Dennis DeBar [R]
Sen. Michael McLendon [R]	Sen. Robin Robinson [R]	Sen. Charles Younger [R]	Sen. Jeremy England [R]
Sen. Tyler McCaughn [R]	Sen. Neil Whaley [R]	Sen. Rita Potts Parks [R]	Sen. Andy Berry [R]
Sen. Bart Williams [R]	Sen. Philman Ladner [R]	Sen. Joseph Seymour [R]	Sen. Benjamin Suber [R]
Sen. Nicole Boyd [R]	Sen. Angela Burks Hill [R]

Date	Chamber	Action
2025-02-12	Senate	Referred To Finance

Chapter	Article	Section	Citation Type	Statute Text
27	35	50	Amended Code	See Bill Text

Type	Source
Summary	https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2968.xml
Text	https://billstatus.ls.state.ms.us/documents/2025/html/SB/2900-2999/SB2968IN.htm