Mississippi property tax is a local tax run by state rules. The Constitution sets the assessment ratios, the county Tax Assessor values the property, and the county, city and school district each set a millage rate, so the same house can carry a different bill from one place to the next.
This guide uses the Mississippi Department of Revenue’s county services pages, with the Mississippi State University Extension publication on property taxes for background, all read on 3 November 2026. It covers assessment ratios, how millage works, the three homestead tiers, due dates and appeals, with a worked example that is our own calculation.
The Department of Revenue gives the formula as "True value x Assessment Ratio x Millage Rate = Taxes". The county Tax Assessor sets the true value, the assessment ratio is fixed by the state Constitution, and the millage rate comes from the local taxing authorities. One mill is 1/1,000 of a dollar, so at 100 mills you pay $100 for every $1,000 of assessed value.
Property is assessed each year to the owner of record on January 1. Real property must be revalued at least once every four years, and the Department oversees valuation so that it is uniform across the state, but the job of valuing property in a county belongs to its locally elected Tax Assessor.
Mississippi puts property into five classes, each assessed at a set percentage of true value:
| Class | Property | Assessment ratio |
|---|---|---|
| Class I | Single-family, owner-occupied, residential real property | 10% |
| Class II | All other real property, except real property in Class I or IV | 15% |
| Class III | Personal property, except motor vehicles and Class IV property | 15% |
| Class IV | Public utility property assessed by the state or the county (not railroad or airline property) | 30% |
| Class V | Motor vehicles | 30% |
The practical point for homeowners is the Class I definition. Mississippi State University Extension notes that a property must meet every Class I requirement exactly; agricultural, rental and business properties and most vacant properties are Class II, and a single property can be part Class I and part Class II. A rental house is therefore taxed on 15% of its value rather than 10%. The Department also notes that, for the most part, household personal property belonging to individuals is exempt, while individuals do pay property tax on motor vehicles when they register them.
There is no single state rate. The Department says the county, the municipality and the school districts where the property sits each levy their own tax: all properties pay a county millage rate and a school district millage rate, and property inside a city, or within a special levee district, pays that jurisdiction’s millage as well. Taxing authorities set their rates from their budget needs. According to MSU Extension, governing authorities must levy the taxes on or before September 15, and a governing authority is limited to a 10 percent cap on increases in total receipts, with exclusions such as debt service.
Two houses of identical value can therefore have different bills because of where they are. The Department publishes county and city millage rates on its Property Tax Data page, and the county Tax Collector can tell you the rate on your own bill.
Homestead exemption is not automatic: the Department says homeowners must apply and meet all eligibility requirements, and the amount depends on the tier.
| Tier | Who | Benefit (Department of Revenue) |
|---|---|---|
| Tier 1: regular | Qualified applicants under 65 who do not fit tier 2 or 3 | Tax credit of up to $300, based on property value |
| Tier 2: age or disability | At least 65, or totally disabled, by January 1 of the year claimed | Exempt from taxes on the first $7,500 of assessed value |
| Tier 3: total exemption | Veterans with a service-connected total disability, honorably discharged veterans at least 90 years old, and unremarried surviving spouses of those veterans or of service members who died on active duty | Exempt from all property taxes on the qualifying homestead |
On tier 1, MSU Extension explains that the credit follows a sliding scale based on assessed value, capped at $300, and that half of it comes off school district taxes and half off county general fund taxes. On tier 2, the exemption can grow after the first year to include most future increases in value. A home with a true value of $75,000 or less (10% of which is $7,500 assessed) is therefore exempt from all property taxes for a tier 2 owner; the Department’s FAQ describes the same limit as the first $75,000 of true value. The Department’s homestead page says 90 for the older-veteran tier. House Bill 420, approved by the Governor on 20 March 2026 (Chapter 406, effective 1 July 2026 per the Legislature’s bill status record), adds a full exemption for honorably discharged veterans aged 85 or older, and the Extension publication refers to age 85 as of January 1, 2026. The Department page had not been updated to 85 when read, so confirm with your county Tax Assessor which age applies to your filing year.
Applications go to the Tax Assessor’s office in the county where the home is located, and the Department says they must be filed between January 1 and April 1. The FAQ states that a missed April 1 deadline means no exemption for that assessment year. Among the eligibility rules on the Department’s page:
Once you have a valid homestead on file you do not reapply each year, but you must reapply if the property description, ownership, use or occupancy changes, or if you move into a different tier, for example when you turn 65. The Department warns that failure to meet the requirements can mean losing the exemption retroactively, and that a disallowed homeowner may have to repay tax jurisdictions for the exemption received in error. Claiming homestead on more than one property is one of the listed reasons for disallowance.
This table is our own calculation, not a Department figure. It applies the Department’s formula and ratios to a Class I home with an assumed total millage of 125 mills; your real millage depends on your county, city and school district. Tier 1 is shown as the gross tax less the maximum $300 credit and tier 2 as the tax on assessed value above $7,500. The last column shows the same house taxed as Class II (15%) with no homestead, for example as a rental.
| True value | Assessed value (10%) | Gross tax at 125 mills | Tier 1 net tax | Tier 2 net tax | Same home as Class II (15%) |
|---|---|---|---|---|---|
| $100,000 | $10,000 | $1,250 | $950 | $312.50 | $1,875 |
| $150,000 | $15,000 | $1,875 | $1,575 | $937.50 | $2,812.50 |
| $250,000 | $25,000 | $3,125 | $2,825 | $2,187.50 | $4,687.50 |
| $400,000 | $40,000 | $5,000 | $4,700 | $4,062.50 | $7,500 |
The tier 2 exemption is a fixed $7,500 of assessed value, so at 125 mills it saves $937.50 a year against at most $300 for tier 1: a difference of $637.50 at every value above $75,000.
The Department says the tax bill is issued in November or December and the tax is due by the following February 1; if February 1 falls on a weekend or legal holiday, payment the next Monday avoids penalties and interest. Property taxes are paid to the Tax Collector of the county where the property is located. When taxes are not paid on time penalties and interest accrue, and delinquent property can be sold at the county tax auction; sales can be held on the first Monday in April and the last Monday in August depending on the county.
If you disagree with the valuation, the Department says to request a hearing with the county Board of Supervisors, whose role includes hearing taxpayer objections to property valuations; your county Chancery Clerk can explain the process. Normally the appeal must be filed by the first Monday in August preceding the due date of the taxes. This guide does not cover appeals beyond the Board of Supervisors because those steps were not confirmed from a source read for this page.
Other exemptions, for example for qualifying enterprises or free port warehouses, are mostly for businesses and are decided by local authorities. The Department stresses that the burden of establishing eligibility for any exemption falls completely on the taxpayer.