Mississippi Property Tax Calculator

How this calculator works

Mississippi property tax is governed by Title 27 of the Mississippi Code. Two structural features make Mississippi's system distinctive among U.S. states: a five-class assessment ratio scheme (Miss. Code § 27-35-5) and two parallel Homestead Exemption regimes with sharply different mechanics (§ 27-33-7 and § 27-33-23). Together they produce one of the lowest effective property-tax burdens in the country for owner-occupied homes, especially for owners 65 and older.

The math for a Class I owner-occupied homestead:

• true value × class ratio = assessed value (10% for Class I, § 27-35-5)
• assessed value × combined millage = gross tax
• gross tax minus Regular Homestead credit OR Additional Homestead reduction = annual property tax

Everything else is determining the right class, the right combined millage, and which homestead path applies to the owner.

The five statutory property classes — § 27-35-5

Mississippi divides every property into one of five statutory classes, each with a different assessment ratio applied to "true value" before the millage rate hits. The structure is anchored in Miss. Const. § 112, which requires equality and uniformity within each class but permits differential treatment across classes.

| Class | Property type | Ratio | | --- | --- | --- | | Class I | Single-family owner-occupied residential | 10% | | Class II | All other real property (rental, second homes, commercial real estate) | 15% | | Class III | Personal property (business equipment, inventory) | 15% | | Class IV | Public service property (utilities, railroads, pipelines) | 30% | | Class V | Motor vehicles | 30% |

The 10% Class I ratio is the single most favorable structural feature of Mississippi property tax for resident homeowners. A $200,000 owner-occupied home is assessed at $20,000 before millage hits. By contrast, Georgia's 40% ratio would assess the same home at $80,000, and Florida's 100% ratio would assess it at $200,000.

The Class II 50% ratio premium over Class I is intentional. It captures absentee landlords, rentals, and second homes at a higher rate while keeping the burden on resident homeowners lower. Converting a primary residence to a rental requires reclassifying to Class II and forfeiting the homestead exemption.

The Regular Homestead Exemption — § 27-33-7

The Regular Homestead Exemption is a CREDIT against the tax bill — not an exemption from assessed value — for owners under 65 and not disabled on a Class I owner-occupied homestead. It applies to the first $7,500 of assessed value and is capped at $300 per year by the statutory formula table in § 27-33-7.

To qualify on January 1 of the tax year the owner must meet ALL of:

• Own and occupy the property as a permanent residence
• Be under 65 and not totally and permanently disabled (otherwise the Additional Homestead under § 27-33-23 governs)
• File the homestead application (Form 72-001) with the county tax assessor, typically by April 1

The calculator uses the $300 maximum as a representative figure. The binding number depends on the exact assessed-value bracket in the § 27-33-7 table, but the max is a reasonable planning floor for any homestead worth at least about $63,000 of true value.

The Additional Homestead Exemption — § 27-33-23

The Additional Homestead Exemption is dramatically more generous. It is a FULL EXEMPTION — not a credit — on the first $75,000 of true value on a Class I owner-occupied homestead. To qualify on January 1 the owner must meet ALL of:

• Own and occupy the property as a permanent residence
• Be 65 or older OR totally and permanently disabled
• File the homestead application with proof of age or disability

There is no income test. A $75,000-or-less senior homestead pays $0 in ad valorem tax. A higher-value senior homestead is taxed only on the portion of true value above $75,000.

The crossover from under-65 to 65+ is the largest single property-tax benefit in Mississippi. A $200,000 Hinds County homestead generates:

• Under 65: $200,000 times 10% times 0.145 = $2,900 gross, minus $300 credit = $2,600 net
• 65 or older: $2,900 gross, minus ($75,000 times 10% times 0.145 = $1,087.50) reduction = $1,812.50 net

The age-65 crossover saves the owner $787.50 per year on this home. Over a 20-year retirement that compounds to roughly $15,750 in nominal savings before considering future millage increases.

Common combined millage rates by county

Combined millage (county + municipal + school) for 2024-2025 on Class I owner-occupied residential. Mississippi quotes rates in mills (thousandths of a dollar per dollar of assessed value); the decimal-equivalent form is shown alongside.

| County | Millage | Decimal | $200K Class I under-65 net | | --- | --- | --- | --- | | DeSoto (Memphis-MS suburbs) | 110 mills | 0.110 | $1,900 | | Rural / other (typical) | 105 mills | 0.105 | $1,800 | | Rankin | 115 mills | 0.115 | $2,000 | | Lee (Tupelo) | 115 mills | 0.115 | $2,000 | | Harrison (Gulfport/Biloxi) | 120 mills | 0.120 | $2,100 | | Madison | 125 mills | 0.125 | $2,200 | | Forrest (Hattiesburg) | 125 mills | 0.125 | $2,200 | | Jackson County (Pascagoula) | 130 mills | 0.130 | $2,300 | | Lauderdale (Meridian) | 130 mills | 0.130 | $2,300 | | Hinds (Jackson) | 145 mills | 0.145 | $2,600 |

Pull the binding combined millage for the specific parcel from the county tax assessor's annual certification. Municipal millage inside an incorporated city adds to the county millage. School district millage and special-district millage (levee, fire, school bond) add further.

A worked example — $200,000 Jackson home, age 40

A $200,000 home in Jackson (Hinds County). Owner is 40, not disabled, primary residence, Class I.

• Assessed value: $200,000 times 10% = $20,000 (§ 27-35-5 Class I)
• Gross tax: $20,000 times 0.145 = $2,900
• Regular Homestead credit: $300 (§ 27-33-7, capped at the max)
• Net tax: $2,900 minus $300 = $2,600
• Effective rate: 1.30% of true value

The Class I ratio is doing the heavy lifting here. At a 100% assessment ratio (Florida, North Carolina, Virginia) the same home and the same millage would produce a $29,000 tax bill. Mississippi's 10% ratio cuts the burden by 90% before any homestead exemption is applied.

A worked example — same home, age 70

Same $200,000 Jackson home. Owner is now 70, primary residence, Class I.

• Assessed value: $200,000 times 10% = $20,000
• Gross tax: $20,000 times 0.145 = $2,900
• Additional Homestead reduction: $75,000 times 10% times 0.145 = $1,087.50 (§ 27-33-23)
• Net tax: $2,900 minus $1,087.50 = $1,812.50
• Effective rate: 0.91% of true value

The age 65 crossover saves $787.50 per year on this home. The Additional Homestead is what positions Mississippi among the lowest effective-rate states for senior homeowners.

A worked example — $75,000 home, senior or disabled

A $75,000 home — exactly at the Additional Homestead cap. Owner is 70 OR totally and permanently disabled at any age.

• Assessed value: $75,000 times 10% = $7,500
• Gross tax (Hinds millage): $7,500 times 0.145 = $1,087.50
• Additional Homestead reduction: $75,000 times 10% times 0.145 = $1,087.50
• Net tax: $0
• Effective rate: 0% of true value

The Additional Homestead Exemption zeroes out the ad valorem tax bill for any senior or disabled homestead worth $75,000 or less. This is the most generous senior property-tax benefit in the Deep South — Alabama's Class I plus exemptions get close, but only Mississippi delivers a complete zero for the typical retirement-cottage value range.

A worked example — $400,000 Gulfport home, senior owner

A $400,000 home in Gulfport (Harrison County). Owner is 70, primary residence, Class I.

• Assessed value: $400,000 times 10% = $40,000
• Gross tax: $40,000 times 0.120 = $4,800
• Additional Homestead reduction: $75,000 times 10% times 0.120 = $900
• Net tax: $4,800 minus $900 = $3,900
• Effective rate: 0.975% of true value

On higher-value senior homestead the Additional Homestead becomes a smaller share of the bill (it caps at $75,000 of true value, not 50% of value). The structural 10% Class I ratio still keeps the effective rate below 1% — far below Texas (1.6%-2.0%), Illinois (2.0%-2.5%), or New Jersey (around 2.5%).

A worked example — Class II rental, under-65 owner

A $200,000 rental house in Jackson owned by an under-65 investor. Class II (not owner-occupied).

• Assessed value: $200,000 times 15% = $30,000 (§ 27-35-5 Class II)
• Gross tax: $30,000 times 0.145 = $4,350
• Homestead: not available on Class II
• Net tax: $4,350
• Effective rate: 2.18% of true value

The Class II 50% ratio premium plus the loss of the homestead exemption nearly doubles the tax burden compared to the same building as an owner-occupied homestead ($4,350 vs $2,600). This is the structural penalty Mississippi applies to absentee ownership.

Comparing Mississippi to surrounding states

Effective property-tax rates on owner-occupied residences across the Deep South and bordering states:

| State | Effective rate (typical) | Why | | --- | --- | --- | | Alabama | around 0.40% | 10% residential ratio plus generous exemptions | | Mississippi | around 0.55%-0.80% (under-65) | 10% Class I; senior full-exemption on first $75K | | Louisiana | around 0.55% | 10% homestead plus $75K homestead deduction | | Tennessee | around 0.65% | 25% residential ratio | | Arkansas | around 0.65% | 20% residential ratio | | Georgia | around 1.00%-1.20% | 40% ratio but high combined millage | | Florida | around 0.80% | 100% ratio plus $50K homestead and Save Our Homes cap |

Mississippi sits firmly at the bottom of the effective-rate tables. The 10% Class I assessment ratio is dramatically lower than Georgia's 40% or Tennessee's 25%. Senior homeowners with property worth $75,000 or less pay nothing in ad valorem tax. For working-age owners the Regular Homestead $300 credit caps quickly but the underlying 10% ratio still keeps effective rates well below the national median.

Common errors to avoid

• Confusing the Regular Homestead with the Additional Homestead. They are completely different mechanics. The Regular Homestead (§ 27-33-7) is a CREDIT capped at $300. The Additional Homestead (§ 27-33-23) is a FULL EXEMPTION on the first $75,000 of true value. The age 65 crossover is enormous and many owners miss it because they assume the Regular Homestead simply increases in value at 65.
• Treating "assessed value" like the appraised value. In Mississippi, assessed value is NOT the appraised figure. It is appraised (true value) times the class ratio (10% for Class I). Multiplying true value directly by millage will overstate the tax by 10x for an owner-occupied home.
• Forgetting to apply for the homestead. Mississippi homestead is NOT automatic. File Form 72-001 with the county tax assessor by April 1. The exemption persists year over year so long as ownership and occupancy do not change.
• Letting Class I lapse by renting the home. Converting a homestead to a rental triggers Class II (15% ratio, no homestead). The owner must notify the county tax assessor. Failure to do so creates a back-tax exposure when the misclassification is discovered.
• Missing the disability path. Total and permanent disability unlocks the Additional Homestead at any age. SSA or VA certification is accepted directly. Many under-65 disabled owners file as Regular Homestead by default and miss several hundred dollars per year of additional exemption.
• Confusing Class V motor vehicle tax with real-property tax. Mississippi motor vehicles are Class V at 30%, but motor-vehicle ad valorem is administered through the annual tag-renewal at the county tax collector — not the county tax assessor. The tag-renewal bill reflects vehicle true value times 30% times county millage. This calculator does not model motor-vehicle tax.

Tools, not advice. Confirm the binding county and municipal millage rates with the county tax assessor and confirm homestead eligibility with the county tax assessor before relying on any result for planning purposes. Last reviewed 2026-05-16.