Mississippi Property Tax Calculator

Mississippi Property Taxes

In Mississippi, taxes on real estate are a key source of local revenue. Property taxes support school districts, as well as city and county governments. Nonetheless, property taxes in Mississippi are quite low. The median annual property tax payment in Mississippi is $1,097, which is significantly lower than the $2,795 national median.

Property taxes in Mississippi are low, in part, because home values are relatively low. Mississippi also has a number of rules that reduce the tax burden on homeowners.

If you are considering becoming a homeowner in Mississippi, a good place to start is with our Mississippi mortgage guide. It includes important information about rates and the different types of loans available.

A financial advisor can help you understand how homeownership fits into your overall financial goals. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Mississippi Property Tax Rules

Property taxes in Mississippi are due by February 1st of each year. Taxes are based on rates and assessed property values determined during the preceding year.

For owner-occupied residential properties the assessed value is equal to 10% of market value (also called true value). The rate for all other real estate is 15%. Each county has an assessor, who is required to revalue each property in the county at least once every four years.

Homeowners may also be eligible for the Mississippi homestead exemption. This exempts the first $7,500 in assessed value from taxation, up to a maximum of $300 off your tax bill. Seniors who are 65 or older receive a full exemption on the first $7,500 of their property’s assessed value.

Mississippi Property Tax Rates

Tax rates in Mississippi are determined by local tax authorities based on the amount of revenue they need to fill their budgets. Tax rates are expressed in millage rates. One mill is equal to $1 of tax for every $1,000 in assessed value.

So, for example, if your assessed value (before applying the homestead exemption) is $15,000, and your millage rate is 100, your tax bill would be $1,500. After applying the maximum homestead exemption of $300, your total taxes due would be $1,200.

Another way of determining property tax burden is by looking at effective tax rates. An effective tax rate is the annual property tax payment as a percentage of home value. An average effective tax rate is the median property tax payment as a percentage of the median home value. The table below shows average effective property tax rates for every county in Mississippi.

You can also learn more about your mortgage payments with our mortgage calculator.

Hinds County

The most populous county in Mississippi, Hinds County has property tax rates that are significantly higher than the state average. The average effective tax rate in the county is 1.04%. Hinds County also has a county-wide millage rate of 119.87. Local millage rates vary within the county.

If you have questions about how property taxes can affect your overall financial plans, a financial advisor in Jackson can help you out.

Harrison County

Situated on the Gulf of Mexico in southern Mississippi, Harrison County has tax rates slightly below state averages. The county’s average effective tax rate is just 0.80%. A homeowner facing that rate with a home worth $120,000, would pay just $1,258 annually in property taxes.

DeSoto County

DeSoto County’s average effective tax rate of 0.79% is just about on par with the statewide average. DeSoto County sits across the state line from Tennessee. It’s worth noting that property taxes in DeSoto County are well below those in Tennessee’s Shelby County, home to Memphis. The rate in Shelby County is 1.37%, almost double the rate in Mississippi’s DeSoto County.

Rankin County

If you are looking for low property taxes in Mississippi, Rankin County might be a good choice. The most recent county average millage rate in Rankin County is 111.59 mills. The average property tax rate in Rankin County is just 0.81%.

Jackson County

Homeowners in Jackson County pay higher-than-average property taxes. The median annual property tax payment in Jackson County is $1,261. That's higher than the state average.

Madison County

This central Mississippi County has the highest median home value of any county in the state at $224,300. So while tax rates in Madison County aren't especially high (the average effective tax rate is 0.81%), homeowners in the county pay more in dollar terms than homeowners in any other Mississippi county. The county’s median annual property tax is $1,828.

Lee County

The average effective property tax rate in Lee County is 0.86%. At that rate, the annual taxes on a home with a market value of $140,600 would be $1,214.

Lauderdale County

Taxes on real estate in Lauderdale County are among the highest in the state. The county’s average effective property tax rate is 1.08%. However, because of the county’s relative low home values, most homeowners in the county pay around $900 a year in property taxes.

Forrest County

Forrest County is located in southern Mississippi and contains the city of Hattiesburg. The county’s average effective tax rate is 1.17%. Forrest County is also one of two counties in the state where the average homeowner pays more than $1,300 in property taxes.

Jones County

The typical homeowner in Jones County pays $918 annually in property taxes. That payment amount is low partly because the county has relatively low home values, with a median of just $101,300. Otherwise, tax rates in the county are slightly above average for Mississippi. The average effective property tax rate in Jones County is 0.91%, which is 0.16% above the state mark.