Property Tax Alert: Mississippi

May 2005

For some new enterprises, boards of supervisors and municipal authorities are authorized to grant Mississippi property tax exemptions. This becomes effective April 20, 2005. Municipal governing authorities may defer for up to three years taxes on real property and/or inventory levied upon any new capital investments in land, buildings, or depreciable fixed assets or improvements within the municipality made by small businesses or entities meeting set criteria for new investment and employment. For a small business to qualify, it must have fewer than 50 employees, the new investment must equal at least $100,000, and the new investment must provide for at least five new employees.

Please contact Rash & Associates for more information.