Rate Breakdown

Property taxes in Smith County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Smith County

Property taxes in Smith County are determined by the assessed value of your real property and the local millage rate. The assessment process begins with the Smith County Tax Assessor, who determines the "true value" of your property. In Mississippi, residential property is assessed at 10% of its fair market value, while commercial property is assessed at 15%. The resulting figure is your assessed value. Your final tax bill is calculated by multiplying this assessed value by the combined millage rate set by the Smith County Board of Supervisors, the local school district, and any applicable municipal authorities. One mill is equal to $1 of tax for every $1,000 of assessed value.

Available Exemptions

Mississippi offers several exemptions to reduce the tax burden on qualified residents. These must be filed annually with the Tax Assessor’s office, typically before the April 1st deadline.

• Homestead Exemption: Available to homeowners who occupy their property as their primary residence. This provides a significant reduction in the assessed value used for school district taxes.
• Senior Citizen Exemption: Homeowners aged 65 or older may qualify for an additional exemption on the value of their primary residence.
• Disability Exemption: Individuals who are 100% disabled due to service-connected or non-service-connected factors may be eligible for a full or partial exemption on their primary residence.
• Veteran Exemption: Veterans with specific service-connected disabilities may qualify for property tax relief; documentation from the Veterans Administration is required for verification.

Payment Schedule & Deadlines

Property tax statements in Smith County are typically mailed in the fall. The full amount of property taxes is due by February 1st of the following year. While Mississippi law allows for installment payments—whereby taxes can be paid in three equal installments due on February 1st, May 1st, and August 1st—it is essential to confirm specific county policies with the Tax Collector’s office. Failure to pay property taxes by the deadline results in interest and penalties. If taxes remain unpaid, the property may be subject to a tax sale, where the state sells the tax lien to an investor, potentially leading to the loss of property ownership if not redeemed within the statutory period.

Appealing Your Assessment

If you believe the assessed value of your property is inaccurate or exceeds its fair market value, you have the right to appeal. The process begins by contacting the Smith County Tax Assessor’s office to discuss your concerns and review the data used for your valuation. If the matter remains unresolved, you may file a formal petition with the Smith County Board of Supervisors. Documentation supporting your claim—such as recent appraisals, sales data of comparable properties, or photographs of property condition issues—is highly recommended to support your case during the formal hearing process.