Mississippi

Mississippi has an effective property tax rate of 0.63%, with a median annual property tax of $1,189. Properties are assessed at 10.0% of market value and reassessed every 4 years (county assessors perform full reappraisal on 4-year cycle). Payments are due annual.

Effective Rate

0.63%

Assessment Ratio

10.0%

Median Annual Tax

$1,189

Payment Frequency

Annual

Appeal Deadline

By April 1 to local Board of Supervisors sitting as Board of Equalization

Due Dates

Due February 1; delinquent after February 1. Some counties allow earlier payment.

Reassessment Cycle

Every 4 years (county assessors perform full reappraisal on 4-year cycle)

Homestead Exception

First $7,500 of assessed value ($75,000 market value at 10% ratio) exempt from all ad valorem taxes. Additional $7,500 for disabled/65+ ($150,000 total market value exempt).

Key Notes

Assessment ratio is 10% for residential; 15% for all other real property. Low effective rate despite moderate millage rates because of low assessment ratio. Homestead exemption combined with low assessment ratio makes Mississippi very favorable for homeowners.

Late Penalty

1% per month penalty on delinquent taxes; property sold at tax sale in August if prior year taxes unpaid

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