Mississippi Mortgage Calculator
Calculate your monthly payment in Mississippi, with property tax included using the state's effective rate of 0.72%. See your full amortization schedule and analyze your loan structure.
Pick a state to use its property tax rate. With a keyboard, use the arrow keys and press Enter.
Estimated Monthly Payment
Estimates only. Does not include homeowners insurance, mortgage insurance (PMI), or HOA fees. Property tax uses the state's average effective rate and your actual bill may differ.
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Property tax in Mississippi: the numbers
At 0.72%, Mississippi comes in under the 0.92% national average (22% lower). By rate, Mississippi shares 32nd place with Montana when the 50 states are ranked from highest rate to lowest.
The median home value in Mississippi is $169,800, and the median annual property tax bill is $1,215. Spread over twelve months, that is about $101 a month in property tax for a median-priced home.
| Effective property tax rate | 0.72% |
|---|---|
| Median home value | $169,800 |
| Median annual property tax | $1,215 |
| Rank by rate (1 = highest of 50) | 32 (tied with Montana) |
| Difference vs 0.92% national average | 0.20 points below (22% below) |
What this means for your monthly payment
Two worked examples for Mississippi, using the figures above:
Example 1: the median home
$1,215 per year ÷ 12 = about $101 per month in property tax (median home value: $169,800).
Example 2: a $300,000 home
$300,000 × 0.72% ÷ 12 = about $180 per month, or $2,160 per year.
At the 0.92% national average rate, a $300,000 home would have about $2,760 in property tax per year. In Mississippi it is about $2,160, which is $600 less per year (about $50 less per month).
Compare with similar states
States ranked just above and just below Mississippi by effective property tax rate (1 = highest). States with the same rate are ordered by median annual tax.
Ranked just above (higher rate)
Ranked just below (lower rate)
- California — 0.70% (rank 34)
- New Mexico — 0.70% (rank 34)
- North Carolina — 0.66% (rank 36)
- Wyoming — 0.57% (rank 37)
- Louisiana — 0.55% (rank 38)
Mississippi property tax FAQ
What is the property tax rate in Mississippi?
The effective property tax rate in Mississippi is 0.72%. That is 22% below the 0.92% national average, and the state shares 32nd place with Montana when the 50 states are ranked from highest rate to lowest.
How much is property tax on a $300,000 home in Mississippi?
At Mississippi's effective rate of 0.72%, property tax on a $300,000 home works out to about $2,160 per year, or about $180 per month. At the 0.92% national average, the same home would be about $2,760 per year, so Mississippi is about $600 less per year.
How much is property tax on the median home in Mississippi?
The median home value in Mississippi is $169,800, and the median annual property tax is $1,215, which is about $101 per month.
Does the property tax rate vary inside Mississippi?
Yes. Property taxes are set locally, so actual bills depend on your county, city, and exemptions. The 0.72% figure is a state-level estimate based on medians, not a rate that applies to every home.
Figures are estimates based on Census data and are not tax or financial advice. Actual bills depend on your local rates, assessed value and exemptions.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates, as compiled by PropertyShark and PropertyTaxByState.