print header
Site Selection
Site Selection Header

Local Taxes

All businesses in Mississippi are subject to property taxes. These taxes are levied by three main taxing entities; cities, school boards and counties.

Property Tax

Counties and municipalities levy a property tax on real and tangible personal property in Mississippi. Generally, property is assessed at 15% of true value. This assessed value is then multiplied by the millage rate to determine the annual tax liability. Each city and/or county sets its tax rate, or millage. Mississippi does not have a state property tax.
Property Tax Example

Assume the following facts:

  •  A manufacturing plant is located within a municipality where the total of all taxes is 78.5 mills.
  • The true value of the taxable property is:

Land  $10,000
Machinery and Equipment  $700,000
Buildings  $1,500,000
Raw Materials  $200,000
Finished Goods  $500,000
Total  $2,910,000

  • The assessed value is calculated by multiplying the total by 15% (15% x $2,910,000) = $436,500
  • The tax liability, before any exemptions, is calculated by multiplying the assessed value by the millage: ($436,500 x .0785) = $34,265

Millage Rate Summary

divider

News Releases

Joey Deason on his plans for MCEDA

Nov 08, 2017

Thu, 10/26/2017 - 4:49pm The Madison County Economic Development Authority (MCEDA) has a...

New economic development director in Madison County ‘a tremendous hire’

Nov 06, 2017

New economic development director in Madison County ‘a tremendous hire’ Posted by:...


Click here to go to the news archive