Mississippi variant. This is a Mississippi-specific version of the Property Tax Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Property Tax Calculator.
Mississippi's effective property tax rate of 0.65% means the owner of a median $175,000 home pays roughly $1,138 per year - a figure that varies widely by state.
How Mississippi property tax is calculated
Property tax = assessed value × local millage rate. The 0.65% effective rate shown here is the statewide average of tax paid relative to market value, which smooths over county-by-county differences.
On the $175,000 Mississippi median home, that works out to about $1,138/year or $95/month - often escrowed into your mortgage payment.
About taxes and housing in Mississippi
Mississippi has moved to a flat income tax and exempts the first portion of income from taxation.
Mississippi has the lowest median home prices in the country along with below-average property taxes.
Mississippi has one of the lowest costs of living in the nation, with an economy based on agriculture, manufacturing, and casino tourism along the Gulf Coast.
Worked example: tax on a $175,000 home
$175,000 × 0.65% = $1,138 per year. A $500,000 home in Mississippi would owe about $3,250 annually at the same effective rate.
Quick reference
- State income tax: Flat 4.7% (down from 5%, decreasing further)
- State sales tax: 7% (plus 0.06% avg local)
- Median home value: $175,000
- Median household income: $52,985
- Effective property tax rate: 0.65%
- Avg auto insurance: $1,773/yr
Frequently Asked Questions
What is the property tax rate in Mississippi?
Mississippi's effective property tax rate averages 0.65% of market value per year.
How much property tax on a $175,000 home in Mississippi?
About $1,138 per year at the 0.65% effective rate.