Bill would cut farm taxes, shift to other taxpayers feared
A bill nearing passage in the Mississippi Legislature could cut property taxes for owners of farmland and timberland, but could leave owners of homes, cars and commercial property paying higher tax rates.
House Bill 1456 would alter a formula setting the taxable value of agricultural land in Mississippi to mandate a 16.67 percent decrease in value over time.
The measure is pushed by the Mississippi Property Tax Alliance, a group of farmers in Leflore and Holmes counties who say taxes are too high.
Others say farmers and timber owners already get a break on taxes.
If the bill passes, it would be the second success for the alliance. In 2017, lawmakers set a 4 percent cap on how much taxable value of agricultural land can rise or fall annually.