Real estate closing; require certain notices regarding ad valorem taxes.

Plain English Breakdown

The bill did not pass and was stopped in committee, so its provisions are not enforceable.

Real Estate Closing Tax Notice

This bill would require real estate purchasers to receive a notice about ad valorem taxes before the closing.

What This Bill Does

• Requires that before any real estate closing, the purchaser must be informed if ad valorem taxes are due on the property unless it is exempt from such taxation.
• Notifies the buyer that the payment of ad valorem taxes may be overdue.
• Informs buyers that the property might have been sold for nonpayment of ad valorem taxes.

Who It Names or Affects

• Real estate purchasers in Mississippi.

Terms To Know

ad valorem tax

A type of property tax based on the value of a piece of land or building.

Limits and Unknowns

• The bill did not pass and was stopped in committee.
• It would have taken effect on July 1, 2026, but since it didn't pass, this date is no longer relevant.

Official Summary Text

Real estate closing; require certain notices regarding ad valorem taxes.

Current Bill Text

H. B. No. 1514 *HR43/R1997* ~ OFFICIAL ~ G1/2
26/HR43/R1997
PAGE 1 (BS\KP)
ST: Real estate closing; require certain
notices regarding ad valorem taxes.
To: Judiciary A
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Taylor

HOUSE BILL NO. 1514

AN ACT TO PROVIDE THAT BEFORE THE COMPLETION OF ANY REAL 1
ESTATE CLOSING, A PURCHASER MUST BE PROVIDED NOTICE THAT AD 2
VALOREM TAXES ARE DUE ON THE SUBJECT REAL ESTATE UNLESS IT IS 3
EXEMPT FROM AD VALOREM TAXATION, THAT THE PAYMENT OF AD VALOREM 4
TAXES ON THE SUBJECT REAL ESTATE MAY BE IN ARREARS AND THAT THE 5
SUBJECT REAL ESTATE MAY HAVE BEEN SOLD FOR THE NONPAYMENT OF AD 6
VALOREM TAXES; AND FOR RELATED PURPOSES. 7
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 8
SECTION 1. Before the completion of any real estate closing, 9
a purchaser must be provided notice that ad valorem taxes are due 10
on the subject real estate unless it is exempt from ad valorem 11
taxation, that the payment of ad valorem taxes on the subject real 12
estate may be in arrears and that the subject real estate may have 13
been sold for the nonpayment of ad valorem taxes. 14
SECTION 2. This act shall take effect and be in force from 15
and after July 1, 2026. 16