Anyone who owns real property (real estate) in the State of Mississippi may be eligible to file for Homestead Exemption. If you meet the eligibility requirements, you can recognize a significant savings on your property taxes.
If you bought a home last year that you use as your PRIMARY residence, do you meet the following criteria?
- The home is used as your primary residence;
- You lived in the house as of January 1 of the current calendar year;
- You are considered the head of the family;
- The applicant, spouse, and any other joint owners are also residents of the state;
- You file a Mississippi state income tax return;
- All vehicles owned by you have a Mississippi license plate;
- You can only claim homestead on ONE residence in the state.
If you are eligible, complete this checklist and take it to the county Tax Assessor's office. You must file for homestead exemption between January 2 - April 1.
Most Mississippi Realtors will remind their clients to file because it results in a significant tax savings. Some owners, though, overlook this important step. If you "forget" or don't take the time to file, you may be notified by your mortgage servicer that your house payment has increased due to an escrow shortage. 
I've worked with a few homeowners over the last 20 years who were unaware of or who failed to take advantage of this tax break. I would usually discover the oversight when preparing to SELL their home. I would instruct them to go to the tax office and file for the current year as the buyer receives the benefit of homestead for the remainder of the calendar year. Better late than never!
Once you've successfully filed homestead exemption, it will automatically renew each year unless you move. If there is a change in familial status or change in ownership, you should notify the Tax Assessor's office.
An additional exemption is available if you are aged 65 or over, or if you are 100% disabled. You must go in person to the Tax Assessor's office to provide proof of age/disability and to file for the exemption.
Military personnel who own property in Mississippi are also entitled to a special exemption. Follow the same procedure as listed above and let the tax assessor's office know if you are in the service.
If you are in the market for a new home in Central Mississippi, or are interested in a market analysis of your current home, it would be my pleasure to assist you.
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