Mississippi Property Tax Calculator (Assessed Value & Millage Rates)

Nationally, Mississippi's #34 ranking and 0.65% average effective rate put it below the national median. Measured against the roughly 1.0% average effective rate nationwide, Mississippi's number comes in noticeably below the national average of roughly 1.0%.

That revenue underwrites the basics (public schools, county government, emergency services), the same way it does across most of the South, though the specific mix of school, county, and municipal millage varies by jurisdiction within Mississippi.

For anyone underwriting a purchase in Mississippi, this effective rate is the starting point for modeling PITI escrow and cash-on-cash returns. The worked example below walks through the full calculation on a sample home price so the math is transparent from assessed value to monthly payment.

Mississippi assesses single-family owner-occupied homes at 10% of true value while other real property is assessed at 15%, and then grants a homestead exemption that works as a credit against the bill rather than a reduction in value. Both halves of that design push owner-occupied bills well below what the millage suggests.

None of that detail is asked for here. This calculator works one level up, applying Mississippi's average effective property tax rate of 0.65% to the value you enter. That rate is the ratio of property taxes actually paid to home value across the state, so the assessment ratios, caps, and exemptions described above are already baked into it.

Working through it in order:

1. Start from true value. County tax assessors set true value and apply the Class I ratio to owner-occupied homes.
2. Take the homestead exemption credit. Regular homestead relief is a credit of up to $300 against the tax, and owners 65 and older or totally disabled get an exemption of value instead.
3. Multiply by the effective rate. At 0.65%, a $400,000 home in Mississippi comes to $2,600 a year before any exemption you enter above.
4. Divide by twelve for escrow. That same home works out to $216.67 a month set aside in a mortgage escrow account.
5. Compare it against your own bill. Because the regular credit is capped at $300, its effect fades quickly as home values rise. Your county's number is the one that governs; this figure tells you whether it is roughly where a Mississippi home of that value ought to land.

Using this calculator's baseline inputs: a $400,000 home in Mississippi, taxed at the state's 0.65% average effective rate (rank #34 of 50 states).

1. Start with the assessed value. The home is assessed at its full $400,000.00 market value, with no homestead exemption applied in this baseline scenario.
2. Apply the effective rate. $400,000.00 × 0.65% = $2,600.00 in annual property tax, Mississippi's statewide average effective rate.
3. Convert to a monthly escrow. Lenders typically collect property tax in twelve equal installments alongside principal and interest: $2,600.00 ÷ 12 = $216.67 per month.
4. Project a five-year hold. At a flat rate, five years of ownership totals $2,600.00 × 5 = $13,000.00, before any reassessment, exemption change, or millage increase.

At 0.65%, Mississippi lands below the middle nationally, ranking #34 of 50 states. That is a below-average but still material carrying cost for homeowners.

The engine multiplies taxable value by a single effective rate of 0.65%, so the twelve-row value sweep is a straight line with no threshold in it. The three questions it can answer are what the exemption is worth, what a change in value costs, and what value hits a target escrow figure.

Pricing the exemption. On the baseline $400,000 home the engine returns $2,600.00 a year with no exemption, or $216.67 a month. Apply the calculator's $25,000 homestead scenario and it returns $2,437.50 a year, or $203.13 a month. The exemption is therefore worth exactly $162.50 a year in Mississippi, which is $25,000 multiplied by the 0.65% rate. That figure scales with the exemption and not with the home: a $25,000 exemption saves $162.50 on a $300,000 home and on a $3,000,000 home alike.

The marginal cost of the next unit. Each additional $10,000 of assessed value costs $65.00 a year. The engine returns $2,600.00 at $400,000 and $2,665.00 at $410,000. At $300,000 the annual bill is $1,950.00 and the monthly escrow $162.50; at $500,000 they are $3,250.00 and $270.83. There is no bracket anywhere in the sweep, so the cost per $10,000 is identical at the bottom and the top of the range.

The reverse question. Buyers usually work from an escrow ceiling rather than a tax figure. Holding the monthly Mississippi escrow to $162.50 a month, or $3,600 a year, means an assessed value of $553,846.15, which the engine confirms exactly. Every further $100 a month of escrow tolerance corresponds to about $184,615 of additional assessed value.

Where the sweep table and the headline disagree. The twelve-row schedule steps assessed value from one sixth to two times the value entered, but it computes each row from the raw value, not from the value after the homestead exemption. Set the exemption to $25,000 and the headline drops to $2,437.50 while row 6 of the table, which sits at the entered $400,000, still reads $2,600.00. The gap is the $162.50 the exemption is worth, and it appears in every row of the table. The table is the correct answer to "what would this cost with no exemption at each value"; it is not a projection of the exempted bill.

A Mississippi-specific caution about the exemption field. Mississippi's homestead exemption is a credit against taxes due for regular homeowners and a full exemption from certain millages for qualifying owners over sixty-five or disabled, and it is bounded by statutory maximums rather than being a straightforward subtraction from value. The engine subtracts whatever dollar amount is entered from assessed value before applying the 0.65% rate, so the $162.50 above measures a value-based reduction of that size and is not a computation of the Mississippi credit.

What the single rate cannot express. 0.65% is a statewide average effective rate, and Mississippi sets millage locally, so no individual parcel is taxed at exactly this figure. The engine holds one number per state, has no field for county or municipality, and applies no reassessment schedule of any kind. The rank of #34 of 50 is likewise a stored figure rather than something recomputed from the other 49 states inside this page.

• Specific hyper-local county and municipal millage district variations within Mississippi.
• Special assessment or improvement district charges. Some Mississippi municipalities levy additional assessments on benefiting parcels for street, drainage, or sewer improvements on top of the base county and school millage; the specific list of districts varies by municipality.
• Commercial vs residential assessment classification differentials.
• Property tax appeal reductions or localized board of equalization adjustments.

• Confusing Market Fair Value with Assessed Basis: Some jurisdictions assess property at fractional ratios rather than 100% of market value.
• Failing to File Homestead Paperwork: Homestead exemptions are rarely automatic; homeowners must file timely paperwork with the county appraisal district.
• Underestimating Post-Sale Supplemental Assessments: Purchasing a newly constructed or reassessed property often triggers catch-up supplemental tax bills.
• Ignoring Property Tax Appeal Windows: Missing the annual 30-to-60 day statutory protest window forfeits the right to challenge over-assessed property values for that tax year.

• U.S. Census Bureau: American Community Survey (ACS) Real Estate Assessment Benchmark Data. census.gov/programs-surveys/acs
• Mississippi Department of Revenue: Assessment Ratio Manuals. dor.ms.gov