Bill > HB4033

This bill imposes a 5% tax on the profit gained from the sale of agricultural land if that land is owned or controlled by at least 50% by a "nonresident alien," which is defined as an individual not domiciled in the U.S. and not a U.S. citizen or resident, or any entity (like a corporation or trust) domiciled outside the U.S. or owned by foreign entities, or a foreign government. The bill also amends existing law to specify that starting January 1, 2027, the "true value" for tax assessment purposes of agricultural land owned or controlled by a nonresident alien will not be determined by its current use, but rather by other valuation methods outlined in the section, effectively changing how such land is appraised for property taxes. This legislation is set to take effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB4033.xml