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Updated 2025 Tax Year

Lafayette County
Property Tax Guide

Everything you need to know about property taxes in Lafayette County, MS. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
Quick Facts
Tax Rate
69.37 mills (6.937%) for 2024, varies by location due to municipal boundaries and special districts
Exemptions
4+ Available
Section 1

How Property Tax Works

Lafayette County, Mississippi operates on a property tax system that funds essential local services including schools, roads, public safety, and county operations. Property taxes are the primary revenue source for Lafayette County Schools and various municipal services within the county. The county's tax rate for 2024 was 69.37 mills (6.937%), though rates vary significantly depending on your location within the county due to special taxing districts and municipal boundaries.

Property in Lafayette County is assessed at true market value, with taxes calculated on the full assessed value minus any applicable tax credits. Unlike some states, Mississippi does not cap property assessments, meaning your assessed value can increase with market appreciation. However, homestead tax credits can help limit the impact of assessment increases for qualifying owner-occupied residences. It's important to note that most tax credits require annual application and are not automatically applied to your property.

Section 2

What Makes Up Your Tax Bill

ComponentRate (Mills)Description
County GeneralVariableBasic county services, roads, administration
Lafayette County Schools~68.7-70.37School district operations and facilities
Municipal (if applicable)VariableCity services (Oxford residents pay additional)
Special DistrictsVariableFire districts, utility districts as applicable
Total County Rate69.37FY 2024-2025 (most recent available)

Note: The 2025 tax rates have not yet been officially determined. Oxford residents pay an additional municipal rate of approximately 32.65 mills. Your exact rate depends on which special taxing districts serve your property location. Contact the Lafayette County Tax Assessor for your specific rate based on your property's location.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Lafayette County, property taxes are due in two installments:

Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental taxes in Lafayette County are triggered when property changes ownership, undergoes new construction, or receives improvements that increase assessed value during the tax year. When these events occur, the county calculates the difference between the old and new assessed values, applies the current tax rate, and prorates the additional tax based on the remaining months in the fiscal year.

For example, if you purchase a home in Lafayette County in January that was previously assessed at $200,000 but now has a market value of $350,000, you would receive a supplemental tax bill for the $150,000 increase in assessed value. At the county rate of 69.37 mills, this would result in an additional tax of $1,040.55 ($150,000 × 0.06937) prorated for the remaining months of the fiscal year.

Example Calculation

$300,000 Home (with Homestead Credit)

  • Assessed Value: $300,000
  • Less Homestead Credit Impact: ~$200 annual savings
  • Net Annual Tax: $2,081.10 - $200 = $1,881.10
  • Monthly: $156.76

$600,000 Home (with Homestead Credit)

  • Assessed Value: $600,000
  • Less Homestead Credit Impact: ~$200 annual savings
  • Net Annual Tax: $4,162.20 - $200 = $3,962.20
  • Monthly: $330.18

$1,000,000 Home (no credits)

  • Assessed Value: $1,000,000
  • Annual Tax: $69,370.00
  • Monthly: $5,780.83

Calculations based on 2024 county rate of 69.37 mills. Homestead credits require application and limit assessment increases rather than reducing current value. Actual taxes may vary based on special district rates in your area.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Lafayette County require property tax escrow accounts, collecting monthly tax payments along with your mortgage payment. Lenders typically collect 1/12th of your annual property tax bill each month, plus a small cushion to account for rate increases. Your lender will pay the county directly when taxes are due.

Property taxes in Lafayette County are paid annually, with the current deadline extended to March 3, 2026 due to emergency proclamation. Lenders usually pay taxes before the deadline to avoid penalties. If you have an escrow account, you should receive an annual escrow analysis showing how much was collected and paid on your behalf. Contact your lender if you notice discrepancies, as they are responsible for ensuring accurate and timely payment to avoid penalties on your property.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are Lafayette County property taxes due for 2024-2025? A: The deadline has been extended to March 3, 2026 due to emergency proclamation. There is an automatic 14-day grace period for car tags.

Q: What homestead tax credits are available and do I need to apply? A: Mississippi offers a homestead tax credit that helps limit assessment increases for owner-occupied residences. You must apply annually with the Tax Assessor's office and maintain Mississippi residency. Military personnel stationed outside Mississippi can qualify if they claim Mississippi residency.

Q: How does the homestead credit work? A: The homestead credit limits how much your assessment can increase annually rather than reducing your home's assessed value. You must file an application and cannot claim residency in another jurisdiction for income tax purposes.

Q: What happens if I pay my property taxes late? A: Late payments incur penalties and interest. Contact the Lafayette County Tax Collector for specific penalty rates and payment options if you've missed the deadline.

Q: How often are properties reassessed in Lafayette County? A: Mississippi law requires periodic reassessment, though schedules vary. Contact the Lafayette County Tax Assessor for current reassessment schedules and appeal procedures.

Q: Can I pay my property taxes online? A: Contact the Lafayette County Tax Collector's office to confirm current online payment options and accepted payment methods.

Q: Why is my tax rate different from my neighbor's? A: Tax rates vary based on special taxing districts, municipal boundaries, and school districts. Oxford residents pay additional municipal taxes, and various special districts may apply depending on your property's location.

Q: How do I appeal my property assessment? A: Assessment appeals must be filed with the Lafayette County Tax Assessor within specified timeframes. Contact the assessor's office for current appeal procedures and deadlines.

Q: Do senior citizens qualify for additional tax credits? A: Contact the Lafayette County Tax Assessor to inquire about age-based tax credits and application requirements, as these require separate applications and eligibility verification.

Q: What documentation do I need for tax credit applications? A: Requirements vary by credit type, but typically include proof of residency, ownership documentation, and income verification where applicable. Contact the Tax Assessor's office for specific requirements for each available credit program.

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