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20 Form 60-007-15-1-1-000 ( Rev. 01/15) MAIL TO: Mississippi Department of Revenue Ad Valorem Division P. O. Box 1033 Jackson, Mississippi 39215 ANNUAL REPORT To The State of Mississippi For The ASSESSMENT.

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Homeowners may also be eligible for the Mississippi homestead exemption. This exempts the first $7,500 in assessed value from taxation, up to a maximum of $300 off your tax bill. Seniors who are 65 or older receive a full exemption on the first $7,500 of their property's assessed value.

Personal property such as inventory, furniture and fixtures, and machinery and equipment used in trade or manufacture are subject to property tax.

Homestead exemption is a law passed by the Mississippi legislature in 1936 to give homeowners a reduction on their property taxes. To receive this tax break you must: File a homestead exemption application between January 1 and April 1. Be a legal resident of the state of Mississippi.

Before the exemption can be allowed, the applicant must make a written application between January 1 and April 1 of the year in which the exemption is sought.

The property tax rate in Mississippi is determined by the local government and is expressed as a percentage of the assessed value of the property. The assessed value is calculated by multiplying the appraised value of the property by the assessment ratio, which is typically 10%.

Persons who are 65 years of age and older or who are disabled, upon application and proof of eligibility, are exempt from all ad valorem taxes up to $7,500.00 of assessed value. The application for exemption must be filed with the individual county on or before April 1.

To receive the benefit of the homestead exemption, the taxpayer must file an initial application. In Madison County, the application is filed with the Tax Commissioners Office. The application must be filed between January 1 and April 1 of the year for which the exemption is first claimed by the taxpayer.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232