Mississippi § 59-9-35 - Exemption from ad valorem taxes of certain lease contracts; time limit; lessee required to pay taxes after expiration of exemption.
Full text of Mississippi Mississippi Code of 1972 Annotated § 59-9-35 — Exemption from ad valorem taxes of certain lease contracts; time limit; lessee required to pay taxes after expiration of exemption., with citation guidance and answers to common questions.
§ 59-9-35. Exemption from ad valorem taxes of certain lease contracts; time limit; lessee required to pay taxes after expiration of exemption.
Any contract for the lease of any development for the manufacture of ships, vessels, shipyards, shipbuilding facilities, machinery and equipment, ship components, systems, parts, fuel and materials required or incidental to any of such purposes to be constructed out of the proceeds of bonds to be issued under the provisions of this chapter may be exempt from ad valorem taxation except state ad valorem taxation and school district ad valorem taxation. The time of such exemption shall not exceed a total of ten (10) years, which shall commence from the date of the contract. Any request for an exemption must be made in writing before the date of the contract. The lessee shall be required, after the expiration of any exemption granted hereunder, to pay ad valorem taxes on the leasehold notwithstanding that title to such development is vested in the county and port authority.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 59-9-35
What does Mississippi Code of 1972 Annotated § 59-9-35 cover?
Section 59-9-35 ("Exemption from ad valorem taxes of certain lease contracts; time limit; lessee required to pay taxes after expiration of exemption.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 59-9-35?
A common citation format is "Mississippi Code of 1972 Annotated § 59-9-35" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 59-9-35 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.