Property Tax Records in Mississippi

If you buy a home or apartment unit in Mississippi, you'll receive a tax bill every year that requires you to pay property taxes. Your property taxes will be based on the value of your home as well as the tax rate in your county. Each county in Mississippi has an assessor. Every property within the county must be revalued every four years. However, most assessors perform this process more often.

No matter where you live in Mississippi, you'll be tasked with paying your property taxes by February 1. You should receive your tax bill in November of the previous year. While property tax rates are different in each county, the average rate in Mississippi is just 0.75%. In comparison, the national average is around 0.99%. Property taxes can typically be paid in cash, online, or with certified funds. However, methods can vary with each county. If you're unsure what method you can pay your property taxes in Mississippi, you can research your local county's payment methods.

Property taxes have been levied since Mississippi received statehood in 1817. The homestead exemption that property owners now have access to was established in 1938 to encourage home ownership and building. The state also believed that the policy would provide more financial security to family groups.

Property taxes in Mississippi are based on a home's assessed value and market value. Likely the best aspect of Mississippi property taxes is that the assessed value is just 10% of the market value for all owner-occupied residential homes. For other property types, the assessed value is 15% of the market value. Your taxes can be further reduced with the Mississippi homestead exemption. While not complicated, Mississippi tax assessment isn't too complicated.

Local tax authorities, such as the county assessor, can set the tax rates throughout Mississippi. These rates can change when county budgets increase or decrease. Mississippi tax rates are displayed as millage rates. A single mill amounts to $1 in tax for every $1,000 of your home's assessed value.

Let's say that your home has a current market value of $250,000. With a 10% assessment rate, the property's assessed value will be $25,000. If your county charges a millage rate of 50, your tax bill will amount to $1,250 before any exemptions are applied. You can also estimate your tax burden by identifying your county's effective tax rates. The tax rates for the most populous counties in Mississippi are:

As you can see, Hinds County property taxes are much higher than those of Harrison County and other smaller and less populated counties. This is natural, as Hinds County has more services and more people.

The property taxes you pay each year go towards many different public services throughout your county. In Mississippi, property tax revenues are used to cover a portion of county budgets. These revenues make it possible for governments to provide services like:

For example, this money funds 140 school districts that educate more than 470,000 students. It also pays for over 200 public libraries, 15 community colleges, and other general services in the 82 counties that make up Mississippi.

If you're looking to buy or invest in Mississippi real estate, you should have a good idea of what your annual tax bill will be once you make the purchase. You can estimate the tax amount by researching property tax records. In Mississippi, these records are available to the public in every county.

After you enter a street name or parcel ID, you'll get a list of properties that match your search parameters. Once you gain access to a property's records, you can find everything from the home's assessed value to the year that it was built. The information that's available in Mississippi property records includes the following:

While property taxes in Mississippi are already much lower than the national average, you can further reduce your annual taxes with exemptions and deductions.

The main tax break that homeowners have access to is the homestead exemption. Keep in mind that the credits or exemptions you receive can vary based on where you live. Each county can make small changes to the property tax exemptions that Mississippi offers.

Homestead Tax Credit: The primary Homestead Tax Credit in Mississippi is designed to reduce the amount of taxes you pay each year. This exemption is available to property owners who meet the requirements that the Mississippi State Tax Commission maintains.

If you apply for this exemption, you'll receive a tax credit that lowers your property taxes by $300. Once you're approved for the credit, you should continue to receive it every year. However, any notable change in your situation means that you'll need to reapply. The qualifications that must be met to be approved for this credit include the following:

• You must own your property and live there on January 1 for the year in which you submit the application
• The property needs to be your primary residence
• You must be the head of the household
• All vehicles that you own need to have Mississippi license plates
• You can only file for a homestead exemption on one residence

Homestead Tax Exemption for Elderly or Disabled Individuals: This tax exemption eliminates property taxes on the initial $7,500 of your home's assessed value. You can qualify for this exemption if you have a total disability or are at least 65 years old.

Homestead Tax Exemption for Disabled Veterans: If you have a service-connected disability that's rated at 100%, you can qualify for this exemption. If you qualify, you won't need to pay taxes on your homestead property.

You can take a few steps to search property tax records in Mississippi, including accessing your county's database or using a third-party tool like PropertyChecker. Every county in Mississippi provides an online platform for the public to research property tax records.

For example, Rankin County offers a document center where users can enter search parameters like PPIN number, parcel number, owner name, and street name. When you input a search query, you should receive comprehensive records of the property that interests you.

PropertyChecker offers the same features as well as additional functionality. This tool makes it easy for users to find property tax and deed records with search parameters like owner's email, owner's name, parcel ID, and address. You can complete a search in less than 60 seconds, after which you'll be able to see information like:

When you receive a Notice of Assessment in the mail, you should see your home's assessed and market values on the document. These values are likely accurate. However, assessors aren't infallible. They might overestimate the price of your home or make an error in their calculations. If your Notice of Assessment is inaccurate, you can start the appeals process, which is available to all Mississippi property owners. While not complicated, Mississippi property tax appeals can take a while. However, with the steps below, you'll be able to appeal property taxes in Mississippi.

Step 1: The assessor in your county should perform a mass appraisal by February 1. You'll then receive a Notice of Assessment by June 1, which will inform you of your home's assessed value. If you believe that this information is inaccurate, you can file an appeal.

When you file an appeal in Mississippi, make sure you include your property's parcel number and address. You must also provide evidence that supports your claim that the assessment value is incorrect. You can use income data and comparable property information to prove that your home's assessed value should be changed.

Step 2: Once you decide to appeal, you can request an informal review with your county's tax assessor. You can make this request in writing, by phone, or by visiting their office. Once you make this request, you'll receive all the information the Assessor's office used to determine your home's valuation.

Step 3: If you don't agree with the decision that the assessor's office has made, you can file a written appeal with the county's Board of Supervisors. It's best to file this appeal before the end of July. Your local paper should publish public records notices that list specific dates for property tax hearings. These hearings often take place after the initial Monday in July.

Step 4: You can file an additional appeal with the Circuit Court or the Board of Tax Appeals if you believe that the assessment value is still incorrect. To file an appeal with the Board of Tax Appeals, you'll need to submit the Notice of Appeal or Objection form. Make sure you provide the original document as well as three copies.

You'll also be tasked with sending a copy directly to the Mississippi Department of Revenue. During this hearing, the Board will look at all the documentation you've submitted in previous meetings. They'll use it to determine if your property's assessment value should be reduced. Keep in mind that the Board doesn't review any new evidence.

Since Mississippi property taxes are lower than the national average, they may not play a major role in real estate transactions. However, these taxes are folded into monthly mortgage payments, which is why potential buyers often seek property tax records to estimate how much they'll pay each month. If your annual property taxes amount to $1,200, your mortgage payment will increase by $100 per month.

In real estate transactions, the seller typically pays the property taxes that they already owe for the year at closing. The buyer will then receive a credit that covers the amount they owe. If you live in a Mississippi county with a tax rate that's higher than the state average, you should be cautious when setting a listing price for a home you're about to sell. If the price is too high, potential buyers might look somewhere else after estimating their property taxes.

These taxes can also weigh on an investor's decision. When an investor buys a rental property, their main goal is to earn enough money from collecting rental payments to cover all debts and make some profit. High taxes can reduce a property's profit potential, which is why investors will consider them before making offers.

In Mississippi, investors can also buy property tax liens. If a homeowner doesn't pay their taxes on time, the county can place a lien on their property. If the owner decides to sell their home, the county will be able to get what they're owed from the proceeds. Eventually, tax lien certificates are sold at public auction. Depending on the county, these auctions can be held during the first week of April or the final week of August.

When an investor buys a tax lien certificate at auction, the current homeowner will have two years to pay their outstanding taxes. During this time, the tax amount will compound at an interest rate of 1.5% per month. If the owner pays their taxes before the two years have passed, the lien will be removed from the property. Otherwise, the investor will have the opportunity to acquire the property.