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Mississippi Property Tax

Mississippi Property Tax is based on the assessed value and so, it is a kind of ad valorem tax. All real property in the state of Mississippi is subject to real estate tax unless an exemption exists as per the property tax laws of the state. The assessment of property is done on the basis of its true market value and is performed by trained assessors according to the laws, rules and regulations.

MS Property Tax Records

It is essential for the real property owners to check the property tax records in order to make timely repayment. Property tax records are maintained by the Property Tax Commission of the state and details on them can be obtained online. In order to compute the MS Property Tax, the true value of your real property is first multiplied by an assessment ratio. This assessment ratio varies for different kinds of real and personal property. For owner-occupied property, it is 10%, and for other kinds of real property it is 15%. The next step is to multiply the assessment by the local property tax rate, which will yield the amount of property taxes you owe. For any further question regarding your property tax in Mississippi, you should contact your tax collector in your county.

Property Tax Laws

As per the Mississippi property tax laws, you can get homestead exemptions, if you fulfill the eligibility criteria laid out by the taxing authority. Eligible homeowners should contact the local tax assessor in their respective counties and forward application for homestead exemptions. The specified dates within which this application must be submitted are January 1 and April 1. Regular homeowners can get a maximum exemption of up to $300, while the homeowners over 65 years of age or totally blind can get exemption on the first $75,000 of true value. Once applied, you need not apply for homestead exemption each subsequent year.

Mississippi Property Tax Commission

Property Tax Commission of Mississippi handles the property tax assessment in the state. They commission is made up of highly professional individuals who are widely experience in the real estate industry. For further information regarding Mississippi Property Tax, Assessment, Rate and any other aspect of MS Real Property Tax, you should visit the official site of Mississippi State Tax Commission.


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