Modular Homes Just Got Cheaper
Barbour Signs Modular Home Tax Cut Law
POSTED: 6:14 pm CDT October 5, 2006
JACKSON, Miss. -- Gov. Haley Barbour signed a new state law on Thursday that reduces the sales tax rate on modular homes from 7 percent to 3 percent.
The law took effect immediately.
Barbour said he hopes it will help speed up redevelopment in south Mississippi more than 13 months after Hurricane Katrina destroyed thousands of homes.
Both chambers of the Legislature passed the tax cut during special session that lasted only 1 hour and 45 minutes.
It passed the Senate with no opposition -- and it passed the House 114-1.
Barbour said the tax cut could save people $4,000 to $6,000 on the purchase of a modular home.
Modulars are made in factories and then put up on slabs at home sites. Some contractors believe that to an untrained eye, modulars look like traditionally built homes.