Posts Tagged ‘Department of Revenue’

Litigation timeline key for Section 42 valuation fight

A key hearing this week in Hinds County Chancery Court could go a long way toward changing how tax assessors calculate the tax liability for Section 42 Housing Developments. The Mississippi Association of Supervisors, the Mississippi Municipal League and dozens of towns and cities have sued the Department of Revenue, in an attempt to force […] [...]

Dept. of Revenue pulls the old switcharoo with tax liability-calculation rules

The two committee chairmen who ushered through the Capitol a bill they thought would clarify tax liability-calculation rules for Section 42 housing developments said last week the Department of Revenue had been ignoring the bill’s intent. Passed during the legislative session in 2005, Senate Bill 3100 directed tax assessors to use the income capitalization approach […] [...]

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