Mississippi Code Title 27. Taxation and Finance § 27-31-36

All railroad properties and facilities in this state owned by a limited liability company or other entity that is wholly owned by a railroad authority created under Section 19-29-1 et seq., shall be exempt from ad valorem taxation to the same extent as property belonging to such a railroad authority. For the purposes of this section, the term “railroad properties and facilities” means and has the same definition as that term has in Section 19-29-5.