Ad valorem tax; exempt portion of true value of certain land.

HB 4068 creates a property tax exemption for certain natural lands in Mississippi. If land is appraised at a higher value than it would be under agricultural valuation rules, the difference between those values is exempt from taxes. This applies to qualifying land including natural areas, waterways, trees, ditches, and harvestable sod, excluding commercial or residential structures. The exemption takes effect January 1, 2027.