Mississippi Code

Miss. Code Ann. § 57-3-33 (2026)

Exemption from taxation of bonds, etc.; time limit for ad valorem tax exemption

✓ current as of July 2026

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The bonds authorized by this chapter, the income therefrom, all mortgages or deeds of trust executed as security therefor, all lease or purchase agreements made pursuant to the provisions hereof, and all purchases required to establish the enterprise and financed by bond proceeds shall be exempt from all taxation in the State of Mississippi except the contractors' tax imposed by Section 27-65-21 and the tax levied by Section 27-65-24(1)(b) and all projects and the revenue derived from any lease thereof shall be exempt from all taxation in the State of Mississippi, except the tax levied by Sections 27-65-21 and 27-65-24(1)(b). From and after July 1, 1989, there shall be no new exemption under this section or under Chapter 10, Title 57, Mississippi Code of 1972, from ad valorem taxes levied for school district purposes. The time of any ad valorem tax exemption provided for hereunder shall not exceed a total of ten (10) years, which shall run from the date of completion of the project. In no event shall the term of the ad valorem tax exemption provided for hereunder be limited, terminated or otherwise affected by payment in full of the bonds issued under this chapter or by the change from a leasehold to a fee title in the enterprise financed with bonds issued under this chapter.

Codes, 1942, § 8936-66; Laws, 1960, ch. 147, § 16; Laws, 1964, ch. 217, § 7; Laws, 1966, ch. 235, § 7; Laws, 1989, ch. 524, § 22; Laws, 1990 Ex Sess, ch. 71, § 4; Laws, 1992, ch. 518, § 4; Laws, 1995, ch. 355, § 2; Laws, 2010, ch. 449, § 6, eff. 7/1/2010.

Notes of Decisions

Cited in 4 cases, 1984–2003 · leading case: BD. OF SUP'RS, ETC. v. Hattiesburg Coca-Cola Bottling Co., 448 So. 2d 917 (Miss. 1984).

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BD. OF SUP'RS, ETC. v. Hattiesburg Coca-Cola Bottling Co., 448 So. 2d 917 (Miss. 1984). · cites it 32× “§ 57-3-33, supra provides as follows: § 57-3-33.”

In re Assessment of Ad Valorem Taxes on Leasehold Interest Held by Reed Mfg., Inc. ex rel. Itawamba Cnty. Bd. of Supervisors, 854 So. 2d 1066 (Miss. 2003). · cites it 7× “1984), this Court was faced with this similar issue in determining the purpose of Miss.Code Ann. § 57-3-33 which at the time stated: The bonds authorized by this chapter, and the income therefrom, all mortgages *1073 or deeds of trust executed as security therefor, all lease or…”

Morco Indus., Inc. v. City of Long Beach, 530 So. 2d 141 (Miss. 1988). · cites it 5× “[3] We think the statute most applicable to the question here is § 57-3-33. It provides: The bonds authorized by this chapter, and the income therefrom, all mortgages or deeds of trust executed as security therefor, all lease or purchase agreements made pursuant to the…”

Reed Mfg., Inc. v. Itawamba Cnty. Bd. of Supervisors (Miss. 2002). · cites it 3× “§ 57-3-33 which at the time stated: The bonds authorized by this chapter, and the income therefrom, all mortgages or deeds of trust executed as security therefor, all lease or purchase agreements made pursuant to the provisions hereof, all purchases required to establish the…”

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