Mississippi (MS) property tax rate: 0.65% | Median home: $175,000 | Median annual tax: $1,138
Mississippi is the most affordable housing state in America. The average effective property tax rate in Mississippi is 0.65%, which is below the national average of 1.1%.
On the median Mississippi home valued at $175,000, annual property taxes come to approximately $1,138 or $95/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Mississippi offers an additional homestead exemption for residents over 65.
Combined with Mississippi's state income tax rate of 5%, homeowners should consider the total tax picture. Property taxes in Mississippi are manageable and in line with regional averages.
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Mississippi has an average effective property tax rate of 0.65%. On the median home value of $175,000, that equals approximately $1,138 per year or $95 per month.
Property taxes in Mississippi are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Mississippi offers an additional homestead exemption for residents over 65.
Mississippi property taxes are well below the national average of 1.1%. This is a genuine financial advantage for homeowners in Mississippi.
Property tax due dates vary by county in Mississippi. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.