Property Taxes in Mississippi
Mississippi's effective property tax rate is 0.58%, ranking #15 out of 50 states (1 = lowest). The median annual property tax paid is $1,009.
Mississippi has moderate property tax rates, with the state assessing residential property at 10% of true value and local millage rates varying by county and school district. The homestead exemption is generous, exempting the first $7,500 of assessed value from all ad valorem taxes for the primary residence. For many homes in affordable communities, this exemption represents a meaningful reduction in the tax bill. The state also offers an additional exemption for homeowners 65 and older.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Tax Foundation, U.S. Census
Tax Rate
0.58%
Median Annual Tax
$1,009
National Rank
#15 of 50
1 = lowest
Homestead Exemption
Yes
Annual Property Tax by Home Price
| Home Price | Annual Tax | Monthly |
|---|---|---|
| $200,000 | $1,160 | $97 |
| $300,000 | $1,740 | $145 |
| $400,000 | $2,320 | $193 |
| $500,000 | $2,900 | $242 |
| $750,000 | $4,350 | $363 |
* Based on the average effective rate of 0.58%. Actual rates vary by county and municipality.
Homestead Exemption in Mississippi
Up to $75,000
File for the homestead exemption after purchasing your primary residence in Mississippi to reduce your assessed property value, lowering your annual tax bill. Contact your county assessor's office for the application.
How Mississippi Compares
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