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MS Senate passes bill that lowers the...

MS Senate passes bill that lowers the threshold to qualify for a fee in lieu of taxes for industry

By: Magnolia Tribune - February 22, 2017

Senate bill would cut property taxes for more industries

JACKSON, Miss. (AP) – Mississippi senators want more industrial projects to qualify for property tax breaks.

Senate Bill 2939, which passed the Mississippi Senate Tuesday, lowers the threshold to qualify for a fee in lieu of taxes from $100 million to $60 million.

Under such an arrangement, the Mississippi Development Authority negotiates a tax rate as low as one-third of normal taxes, for up to 10 years. The breaks had been reserved for very expensive developments.

WTOK
2/21/17

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Magnolia Tribune

This article was produced by Y'all Politics staff.