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Mississippi Property Tax Information

Classes

There are five classifications of property taxes used in Mississippi. Class one refers to single family homes, class two is assessed as all other real property except that in classes one and four. Class three is all personal property excluding motor vehicles and class four property; class five is used for motor vehicles. Class four taxes are those levied on public service property.

Assessor

County tax assessors work out the true value of a property at least once every four years. The Mississippi state tax commission creates guidelines designed to ensure all properties are valued to the same level.

Motor Vehicles

Property taxes levied against motor vehicle ownership are assessed on a national system regarding the taxable year, date of assessment and the date upon which the taxes are collected.

Exemption

Certain individuals are regarded as exempt from paying the first $75,000 of property taxes. Persons aged 65 and older and those who are fully disabled are usually granted this exemption.

Inventory Tax

Property taxes are assessed on the inventory held by the majority of businesses, listed as class three property. These taxes include raw materials and finished goods for sale.

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