Mississippi has one of the lowest property tax burdens in the country. Multiple 2026 sources converge on an average effective property tax rate of roughly 0.58%–0.65% of home value statewide (Tax Foundation cites 0.58% on owner-occupied housing value; SmartAsset cites 0.65%), compared to a national average effective rate of about 0.99%–1.0%. That puts Mississippi's rate at roughly 40-45% below the national average, ranking it among the bottom third to bottom quarter of states for effective property tax rate. There is meaningful regional variation within the state: urban/suburban counties with higher millage rates for schools and municipal services (e.g., DeSoto, Rankin, Madison counties in the Jackson and Memphis metro areas) tend to have effective rates noticeably above the rural-county norm, while many rural counties with low millage and low assessed values sit even further below the statewide average.
Example: According to SmartAsset's 2026 data, the median annual property tax bill for a Mississippi homeowner is about $1,221 — compared to a national median of roughly $3,211. This reflects Mississippi's combination of a low assessment ratio (owner-occupied residential property is assessed at only 10% of true/market value, versus 15% for other real property), relatively low millage rates in many counties, and broad homestead exemption participation that shields a large share of home value from tax entirely.
All Mississippi homestead exemptions require an in-person application at the county Tax Assessor's office filed between January 1 and April 1 — there is no automatic enrollment, no online statewide application, and no annual renewal once approved (it carries forward unless ownership/occupancy status changes), so new homeowners specifically must not miss that filing window or they lose the exemption for that tax year. Also note that because owner-occupied residential property in Mississippi is assessed at only 10% of true value (versus 15% for most other property classes), comparing "assessed value" exemption caps directly to a home's market price can be misleading — always multiply the assessed-value cap by 10 to get the equivalent true-value protection.
Facts on this page reflect research current as of 2026-07-05. Programs, rates, and laws change — confirm current figures with the relevant state agency before relying on them.