Mississippi legislation · 2025 Regular Session
Mississippi SB2968: Ad valorem tax; specify provisions for determining the true value of rural structures.
Status: Failed, March 29, 2025
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 OF A POULTRY HOUSE SHALL NOT FALL BELOW 20% OF THE ORIGINAL TRUE VALUE; 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.
What the bill says
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…
From the engrossed text:
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 OF A POULTRY HOUSE SHALL NOT FALL BELOW 20% OF THE ORIGINAL TRUE VALUE; TO REQUIRE THAT AN ADJUSTMENT OF 45% FOR ECONOMIC OBSOLESCENCE BE APPLIED TO ALL POULTRY HOUSES USED IN COMMERCIAL FARMING …
Sponsors
- Rhodes, Brian (R, 36) · primary sponsor
- Tate, Jeff (R, 33)
- Kirby, Dean (R, 30)
- Blackwell, Charles (R, 88)
- Michel, J. Walter (R, 25)
- McMahan, Chad (R, 6)
- Chassaniol, Lydia Graves (R, 14)
- DeBar, Dennis (R, 43)
- McLendon, Michael (R, 1)
- Robinson, Robin (R, 42)
- Younger, Charles (R, 17)
- England, Jeremy (R, 51)
Latest actions
- : Died In Conference
- : Conferees Named Lamar,Steverson,Powell
- : Conferees Named Harkins,Johnson,Rhodes
- : Decline to Concur/Invite Conf
- : Returned For Concurrence
- : Passed As Amended
- : Amended
- : Title Suff Do Pass As Amended
- : Referred To Ways and Means
- : Transmitted To House
Votes
- Passed (March 18, 2025): 111 yea, 1 nay, passed
- Passed (February 26, 2025): 50 yea, 1 nay, passed
Subjects: Ad valorem tax
Common questions
- What is SB2968?
- SB2968 is a bill in the Mississippi Legislature (2025 Regular Session): Ad valorem tax; specify provisions for determining the true value of rural structures.
- What does SB2968 do?
- In its own words: 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…
- What is the status of SB2968?
- Failed as of March 29, 2025. Latest action: Died In Conference (March 29, 2025).
- Who sponsored SB2968?
- Rhodes, Brian (R, 36), with 11 co-sponsors.
- Where is the official record for SB2968?
- On the Mississippi Legislature website: http://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2968.xml
Source: official Mississippi record. Tracked by Delilah, AI for legislation across all 50 states and Congress.