Property Valuation
In Mississippi, 'ad valorem' taxes are taxes levied:
AOn income from real estate
BAccording to the value of the property (a percentage of assessed value)✓ Correct
COn the number of transactions per year
DOn the transfer of property at death only
Explanation
Ad valorem means 'according to value.' Mississippi property taxes are ad valorem—they are assessed as a percentage (mill rate) of the property's assessed value.
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