Frequently Asked Questions:
Property tax, or ad valorem tax, is a tax imposed on the ownership or possession of property and is generally based on the value of the property. In Mississippi, all property is subject to a property tax unless it is exempt by law. Ad valorem tax is based on the assessed value of the purchase multiplied by the millage rate set by the local county government. The ad valorem tax is based on the value of the purchase. Ad valorem tax dollars collected go to support local government functions. The point here is that true value and market value are not the same.
In approximately 10 days or less after your order is processed, you will receive new documents that show your current plate number and your new plate combination. Allow at least six weeks for the custom plates to arrive.
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.
The closing cost in Mississippi for buyers are approximately 2%–5% of the home’s agreement value. While the sellers are expected to pay around 6–10% of the home’s purchase price. For sellers, that includes the agency commission too.
Typically, it’s 1-5 percent of that purchase price. Once you put down that money, it is held in an escrow account where it will stay until you close on the house. This same principle applies to earnest money in the land real estate industry.
There does exist limits on how many acres can qualify (160 acres) and the total amount of assessed value ($7,500 assessed value). In rare cases, a parcel of property that is classified as all Class II may qualify for homestead exemption.
The homestead law’s intent is to keep families on their property. In the case of a property owner’s death, the homestead exemption extends to the surviving spouse or to the couple’s children of minor age. This prevents the deceased’s creditors from making a claim on the property.
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 stop by your tax assessor’s office and file a homestead exemption application between January 1 and April 1, as well as, be a legal resident of the state of Mississippi.
Meet the Tax Collector for Lee County
Crystal Heatherly
EDUCATION
She graduated from Mooreville High School and attended Itawamba Community College where she received her associate of arts degree. She has received her CRI, CRII, and MCR certification through the Mississippi Department of Revenue and the Mississippi Assessors and Collectors Association.
EXPERIENCE
She has over 11 years of experience in the tax office. Before taking on the roll as Tax Collector, Crystal was the Real Property Tax specialist. In her time at the tax office, she has worn many hats as a deputy clerk and has gained a wealth of knowledge.
ABOUT CRYSTAL
She is a member of Mantachie First Baptist Church where she serves as a member of the Adult Praise Team. She and her husband, Eric, share a life with their three children Tyler, Bryce, and Simon.
How to reach the tax collector's office:
Mailing Address: PO Box 271, Tupelo, MS 38802
Our Hours: Monday – Friday: 8AM – 5PM