Property taxes in Mississippi are assessed and collected by counties, municipalities, and school districts. Taxes are calculated as the true value of the property times the assessment ratio. The assessment ratio for single-family, owner-occupied residential property is ten percent. The local millage rates are applied to the assessment value to determine the amount of the property taxes. You can find the millage rates on the Mississippi Department of Revenue website. There are property tax breaks in Mississippi in the form of the homestead exemption, and an exemption for homeowners who are age 65 or older or disabled.
The homestead exemption entitles the homeowner to a credit of up to $300 against property taxes, depending on the value of the property. To qualify for the homestead exemption, you must own and reside on the property as your principal residence. You must be considered head of a family. You, your spouse and any joint owners must be residents of Mississippi and all vehicles you own must have Mississippi license plates. And you must be in compliance with Mississippi income tax requirements.
Seniors and disabled homeowners
Mississippi homeowners who are 65 or older or totally disabled, who are eligible for the homestead exemption, can claim a total exemption from property taxes on up to 160 acres or the first $75,000 of the true value of their home, whichever limit is reached first. If you have more than 160 acres or your property has a value of more than $75,000, you would pay property taxes on the excess acreage or value. To qualify for this exemption you need to provide proof of age or disability. Proof of disability could include documentation from the Veterans Administration, Social Security or Railroad Retirement Administration, or letters from two physicians indicating the disability.
How to claim property tax relief
You need to apply for the homestead exemption in person at your county tax assessor’s office. You can find a list of county tax assessors / collectors with contact information on the Mississippi Department of Revenue website. You should find out from the tax assessor’s office what documentation they need to approve your application for a homestead exemption. This could include proof of identity, social security numbers, the recorded warranty deed to your home or your last tax bill, and vehicle registrations. Mobile homes can also qualify for the homestead exemption. In that case you will need the title or registration to your mobile home.
If you buy a property that already has a homestead exemption, you can take advantage of that exemption for the rest of the year, but you need to apply for the homestead exemption in your name for the following year. Applications for homestead exemptions must be filed between January 1 and April 1.
Once you have been approved for the homestead exemption you do not have to apply again each year. You would need to re-apply for the homestead exemption if there are changes in the ownership of your property or your marital status, when you reach age 65 or become disabled, in the event of the death of a spouse, or if you purchase another home.
Sources:
County Tax Assessors / Collectors of the State of Mississippi – Mississippi Department of Revenue
Property FAQs – Mississippi Tax Commission
Property Tax – Mississippi Department of Revenue
Reference:
- The Facts on Mississippi’s Tax Climate: www.taxfoundation.org/research/topic/38.html
- Mississippi Department of Revenue: www.dor.ms.gov/
- Property Tax Relief Programs and Property Tax Burdens: www.taxadmin.org/fta/meet/msata_08/msata08/presentations/burdensbybaer.pdf
