Supervisors seek repeal of exemption for Section 42 2/4/2014

Published 12:00 am Wednesday, February 5, 2014

Supervisors seek repeal of exemption for Section 42


By Rupert Howell
Panola Supervisors passed a resolution Monday asking Mississippi Legislators to repeal the property tax exemption on Section 42 Housing, claiming the exemption drains thousands of tax dollars from local governments.

Section 42 Housing is low income housing derived from section 42 of the Fair Housing Act. Renters’ rates are calculated by income with government subsidies for the low income renters.
Approximately 21 rental properties in Panola County account for  $181,228 in exempt county tax dollars, according to a spreadsheet provided by Panola County Administrator Kelley Magee.
The City of Batesville misses approximately $80,000 with the Section 42 Housing exemptions according to the same spread sheet that lists 14 Section 42 properties.

Those Batesville properties include: Marcus & Manzell (2), FMS Investments, Munster Housing/Skyview (5); Meadowview, North Park LTD, Panola Family LP, Batesville Assoc., Batesville Elderly Apartments, and Batesville Family.

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Como has two properties qualifying for Section 42 exemptions including, Azria Lewers, and Como Property Heather Est.

In north Panola, in or near Sardis, five properties are listed as Section 42 Housing. They include Green Hill Apartments, Green Hill Apartments II, Belmont Road Estates, Sardis Apartments and Sardis Housing Apartments.