valuation

Mississippi Homestead Exemption

A property tax benefit for an owner-occupied primary residence. The owner must own and occupy the home on January 1, file the ownership document with the chancery clerk by January 7, and apply between January 1 and April 1 at the county tax assessor's office; it is not automatic. Owners under 65 receive a tax credit of up to $300. Owners 65 or older or totally disabled by January 1 have the first $7,500 of assessed value exempt. Mississippi has no state transfer tax, only recording fees.