Mississippi Sales Tax Calculator
Calculate sales tax in Mississippi. The MS state sales tax rate is 7%. Add local rates for your total sales tax. Free calculator with instant results.
Mississippi at a Glance
$175,000
Median Home Price
0.65%
Property Tax Rate
$2,200
Avg Home Insurance
$472,030
FHA Loan Limit
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Reviewed & Methodology
Every calculator is built using industry-standard formulas, validated against authoritative sources, and reviewed by a credentialed financial professional. State-specific data is sourced from official government publications.
Sales Tax Calculator in Mississippi
The median home price in Mississippi is $175,000, which is 58% below the national average of $420,000. Mississippi's effective property tax rate of 0.65% is 0.45 percentage points lower than the national average of 1.1%.
| Metric | Mississippi (MS) | National Avg | vs National Average |
|---|---|---|---|
| Median Home Price | $175,000 | $420,000 | -58% |
| Property Tax Rate | 0.65% | 1.1% | -0.45% |
| Home Insurance (Annual) | $2,200 | $2,300 | -4% |
| State Sales Tax | 7% | 5% | +2.0% |
| FHA Loan Limit | $472,030 | $472,030 | Standard |
| Conforming Loan Limit | $766,550 | $766,550 | Standard |
Mississippi offers a homestead exemption of $75,300, which reduces the taxable value of your primary residence. The state uses an assessment ratio of 10% to determine the assessed value for property tax purposes.
Homeownership in Mississippi
Mississippi has the lowest median home price of any state at around $175,000, reflecting both its rural economy and historically lower wages. The property tax structure is particularly friendly to homeowners -- the 10% assessment ratio and $75,300 Homestead Exemption (for eligible residents) mean effective annual tax bills can be very low. The Gulf Coast counties have seen more activity due to gaming and tourism industries, with Biloxi and Gulfport housing significantly above the state median.
Tips for Mississippi Homebuyers and Homeowners
- Mississippi's residential property is assessed at 10% of true value, meaning a $175,000 home has a taxable base of just $17,500 -- multiply that by the local millage rate to estimate your annual bill.
- The Homestead Exemption reduces assessed value by up to $7,500 for eligible owner-occupants; homeowners 65+ with income below $60,000 may receive an additional exemption reducing the amount owed to zero.
- Mississippi does not tax Social Security income or public employee retirement income -- among the most retiree-friendly tax profiles in the Southeast.
- Homeownership in Mississippi's coastal counties faces increasing flood and wind insurance costs; flood insurance through NFIP is often required by lenders, and wind policies through MWUA can be expensive.
Mississippi Programs and Assistance
- Mississippi Home Corporation (MHC) Smart6 Program -- provides 6% of the purchase price as a grant for down payment and closing costs for buyers meeting income requirements.
- MHC Mortgage Revenue Bond (MRB7) Program -- below-market rate 30-year mortgages for first-time buyers, with income and purchase price limits.
- USDA Rural Development Single Family Housing Guaranteed Loan Program -- particularly relevant in Mississippi given the state's extensive rural footprint, offering zero-down financing.
Did you know? Mississippi is the only state in the continental U.S. where the median home price has consistently stayed below $180,000, making homeownership achievable at incomes far below national median household income.