Mississippi Code Title 27. Taxation and Finance § 27-35-301

The Department of Revenue is constituted state assessor of railroads and other public service corporations, and it shall, upon the receipt or making of the schedules hereinafter provided for, assess the property of railroads, telegraph, telephone, sleeping car, express, electric power and light companies and other public service corporations liable to taxation in the state, affixing its value for the purposes of ad valorem taxation so that such property shall bear its just proportion of taxation, taking into consideration the value of the franchise and the capital engaged in the business in this state. The state assessor of railroads and other public service corporations may adopt other and further rules necessary and proper to ascertain the value of property to be assessed by it, including the value of the franchise and amount of capital engaged in the business in this state. Provided, however, the Department of Revenue shall be the assessor of railroad and Class IV public service property, but shall not be the assessor of the types and kinds of properties owned by the public service corporations and appraised and assessed by county tax assessors pursuant to Sections 27-35-331 through 27-35-341.