Mississippi Property Tax 2026: $7,500 Homestead, $12,500 Senior Exemption (NEW 2026)

Mississippi's homestead exemption expanded significantly in 2026: the basic $7,500 assessed value exemption for all homeowners remains, but homeowners age 65+ now receive an expanded $12,500 exemption under legislation effective January 1, 2026. This 2026 guide walks through the updated exemptions and the January-April application window.

How Mississippi Property Tax Works

Mississippi property tax is administered by 82 county tax assessors (17 of which have separate tax collectors). The state Department of Revenue oversees standards.

Assessment ratios

• Class I (owner-occupied residential): 10%
• Class II (other real property): 15%
• Class III (personal property): 15%
• Class IV (motor vehicles): 30%
• Class V (public utilities): 33.33%

The tax calculation

Homestead Exemption — Basic and Senior

Basic Homestead Exemption

Up to $7,500 of assessed value exempt for owner-occupied primary residences. Produces up to $300 credit against property tax.

Senior Exemption (NEW for 2026)

Starting January 1, 2026: homeowners age 65+ exempt from ad valorem taxes on up to $12,500 of assessed value (up from $7,500 prior).

Disabled Additional Exemption

100% disabled individuals (documented by VA or SSA) qualify for additional tax exemption.

Application window

Homestead Exemption Applications accepted only during normal business hours between January 1 and April 1 each year. Missing this window forfeits the exemption for that tax year.

Appealing Your Assessment

File written objection with the Board of Supervisors sitting as Board of Equalization by the first Monday in August. Further appeal to Circuit Court within 10 days of Board decision.

Frequently Asked Questions

What is Mississippi's homestead exemption in 2026?

Basic exemption: $7,500 of assessed value (up to $300 tax credit). Starting January 1, 2026, homeowners age 65+ receive an expanded exemption covering $12,500 of assessed value (up from $7,500 prior). File during the January 1 - April 1 window with the county tax assessor.

When is the Mississippi property tax appeal deadline?

File objection with the Board of Supervisors sitting as Board of Equalization by the first Monday in August. Appeal Board decisions to Circuit Court within 10 days.