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Local Incentives

Exemptions

Counties and municipalities may grant an exemption on all property taxes, except school taxes, for a period of up to ten years. Eligible enterprises include warehouse and/or distribution centers, manufacturers, processors, refineries, research facilities, certain telecommunications and data processing companies, regional and national headquarters, movie industry studios, and air transportation and maintenance facilities.

County and municipal authorities may levy a fee-in-lieu of taxes on projects totaling over $100 million. The minimum fee cannot be less than one-third of the property tax levy which would be imposed. Eligible enterprises include warehouse and/or distribution centers, manufacturers, processors, refineries, research facilities, regional and national headquarters, air transportation and maintenance facilities, and regional shopping malls.

By taking advantage of Mississippi’s Free Port Warehouse law, manufacturers can be exempt from paying property taxes on property stored in a licensed Free Port Warehouse in the ratio that the value of shipments outside the State bears to the value of total shipments. For example, if 98% of the value of finished goods were shipped to destinations outside the State, then 98% of the value of the goods on January 1 would be exempt from property taxes.

Please click to access AD Valorem Exemption application

For more information on the Gulf Opportunity Zone, please click here.