Wednesday, October 18, 2006

Barbour Signs Modular Tax Cut To Help Katrina Rebuilding

Mississippi Gov. Haley Barbour on Thursday signed a new state law reducing the sales-tax rate on modular houses - a measure designed to speed up Gulf Coast redevelopment more than 13 months after Hurricane Katrina destroyed thousands of homes.

The law took effect immediately, cutting the modular tax rate from 7 percent to 3 percent. Barbour said it could shave $4,000 to $6,000 off the price of a modular house.

"This will significantly help the reconstruction efforts of many thousands of our neighbors in south Mississippi," Barbour said.

The homes are made in factories, shipped in large pieces and erected on slabs. Manufacturers say modulars look like traditional homes to the untrained eye, and can go up in a matter of days if local building crews are available. Read More

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