General Information
Under Mississippi law, all property is subject to a property tax unless specifically exempted from taxation by statute. The burden of establishing eligibility for a property tax exemption falls completely on the taxpayer. The taxpayer must:
• Make a claim for any exemption requested,
• Cite the source of such exemption,
• If necessary, prove eligibility for the exemption.
Eligibility for statutory property tax exemptions is determined by the county’s Board of Supervisors. Discretionary exemptions are determined by the local taxing authorities (county boards of supervisors, municipal boards of aldermen/councilpersons, school boards, etc.)
For more information about general property tax exemptions, contact the local taxing authorities in the jurisdiction in which the property is located.
General Property Tax Exemptions
Mississippi Code Annotated §27-31-1 through §27-31-50.1
Certain types of property are exempt from property taxes by statute. Many property tax exemptions of this nature can be found in Mississippi Code Annotated Sections 27-31-1 through 27-31-50.1.
Free Port Warehouse Exemptions
Mississippi Code Annotated §27-31-51 through §27-31-61
Mississippi law grants local governing authorities the discretion to issue licenses to eligible warehouses, public or private, to operate as a free port warehouse. As a licensed free port warehouse, qualifying personal property held in the warehouse can be exempt from property taxes.
For more information about free port warehouse exemptions, contact the local taxing authorities in the jurisdiction in which the property is located.
New or Expanded Enterprise Tax Exemptions
Mississippi Code Annotated §27-31-101 through §27-31-117
Mississippi law also provides local governing authorities with the discretion to grant property tax exemptions on certain assets placed in service by qualifying enterprises. Exemptions cannot exceed ten years on any particular asset. Qualifying enterprises are:
• Warehouse and/or distribution centers;
• Manufacturing, processors and refineries;
• Research facilities;
• Corporate regional and national headquarters meeting minimum criteria established by the Mississippi Development Authority;
• Movie industry studios meeting minimum criteria established by the Mississippi Development Authority;
• Air transportation and maintenance facilities meeting minimum criteria established by the Mississippi Development Authority;
• Recreational facilities that impact tourism meeting minimum criteria established by the Mississippi Development Authority;
• Data/information processing enterprises meeting minimum criteria established by the Mississippi Development Authority;
• Technology intensive enterprises or facilities meeting criteria established by the Mississippi Development Authority;
• Data centers as defined in Section 57-113-21;
• Telecommunications enterprises meeting minimum criteria established by the Mississippi Development Authority. The term “telecommunications enterprises” means entities engaged in the creation, display, management, storage, processing, transmission or distribution for compensation of images, text, voice, video or data by wire or by wireless means, or entities engaged in the construction, design, development, manufacture, maintenance or distribution for compensation of devices, products, software or structures used in the above activities. Companies organized to do business as commercial broadcast radio stations, television stations or news organizations primarily serving in-state markets shall not be included within the definition of the term “telecommunications enterprises”; and
• Controlled environment agriculture enterprises meeting minimum criteria established by the Mississippi Development Authority.
Qualifying assets include:
• Land, buildings, improvements
• Machinery, furniture, fixtures, equipment
• Raw materials inventory and work in process inventory
Application for exemption must be made with the local governing authorities by June 1 of the year following when the assets are placed in service. For more information about new or expanded enterprise property tax exemptions, contact the local taxing authorities in the jurisdiction in which the property is located.
Growth and Prosperity Act
Mississippi Code Annotated §57-80-1 through §57-80-11
Mississippi’s Growth and Prosperity Act provides incentives for businesses to locate in designated areas of the state. For more information regarding Growth and Prosperity Act tax incentives, contact:
Mississippi Development Authority
Business Incentives Division
Post Office Box 849
Jackson, MS 39205
financial@mississippi.org
601-359-3552
Broadband Technology Equipment Exemptions
Mississippi Code Annotated §57-81-1 through §57-81-7
The Mississippi Broadband Technology Development Act provides incentives to certain telecommunication businesses to invest in the infrastructure needed to deploy high-speed internet across the state.
For the property tax incentive outlined under Miss. Code Ann. Section 57-81-7, qualifying telecommunications businesses must claim this exemption with the local taxing authorities of the jurisdiction in which the property is located.