The rate in context
On a $400,000 home, 0.58% means roughly $2,320 per year in property tax, escrowed monthly, so it lands directly in your payment and your debt-to-income ratio.
Exemptions and notes
Owner-occupied (Class I) property is assessed at 10% of true value, with a homestead exemption on the first $7,500 of assessed value.
Sources: Tax Foundation 2026 (2024 ACS); NAR/NCSL transfer tax table. County-level rates vary; your county page has local detail.
Counties in Mississippi
FAQ
What is the average property tax rate in Mississippi?
The average effective property tax rate in Mississippi is about 0.58%, per Tax Foundation 2026 (2024 ACS); NAR/NCSL transfer tax table. Individual counties vary above and below that average.
How do Mississippi property taxes affect my mortgage?
Taxes are escrowed into your monthly payment, so a higher rate directly reduces how much house you qualify for. Owner-occupied (Class I) property is assessed at 10% of true value, with a homestead exemption on the first $7,500 of assessed value.