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HB 964

Ad valorem tax; revise provisions relating to determining true value of certain land used for agricultural purposes.

2026 Regular Session Introduced by Jonathan McMillan

HB 964 revises agricultural land tax valuation methods in Mississippi, potentially lowering property tax assessments for farmland and reducing local government revenues.

Referred To Ways and Means
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Bill Summary · HB 964

Legislative bill overview

HB 964 modifies Mississippi's ad valorem tax system by revising how "true value" is determined for agricultural land. The bill adjusts valuation methodologies to potentially reduce the assessed value of farmland for property tax purposes, affecting how much farmers and agricultural property owners pay in local taxes.

Why is this important

Agricultural property tax assessments directly impact operating costs for farmers and rural landowners. Changes to valuation methods can significantly affect tax bills across Mississippi's farming communities and influence property values, while also impacting local government revenue that funds schools and services in rural areas.

Potential points of contention

  • Revenue impact on local governments: Reduced agricultural land valuations could decrease property tax revenue for counties, school districts, and municipalities that depend on these funds
  • Equity concerns: Different valuation methods may create inconsistencies in how similar properties are taxed across different counties
  • Agricultural subsidy debate: Critics may view preferential valuation as a subsidy to agricultural interests, while supporters argue it preserves farming viability and land use
  • Definition disputes: The bill's specific criteria for determining "true value" may be unclear or subject to inconsistent application

Compiled from official sources — confirm details with the bill’s official record.

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