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Updated 2025 Tax Year

Rankin County
Property Tax Guide

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

10 Official Sources
8 min read
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Quick Facts
Tax Rate
56.55 mills (5.655%) for FY 2025-2026, varies by special taxing districts
Exemptions
4+ Available
Section 1

How Property Tax Works

Rankin County, Mississippi operates under a property tax system that funds essential county services including schools, public safety, infrastructure, and local government operations. The county's property tax rate for FY 2025-2026 is 56.55 mills (5.655%), which is applied to the assessed value of real property. This millage rate represents one of the primary funding mechanisms for county operations, school districts, and various special service districts throughout Rankin County.

Property tax rates can vary significantly within Rankin County depending on your specific location and the special taxing districts that serve your area. These districts may include school districts, fire departments, water districts, and other municipal service areas. Each district adds its own millage to the base county rate, resulting in different effective tax rates across the county. Property owners should verify their specific millage rate with the Rankin County Tax Assessor's office, as your total rate depends on which combination of taxing districts serve your particular address.

Section 2

What Makes Up Your Tax Bill

ComponentRate (Mills)Description
Base County LevyVariableGeneral county operations and services
School DistrictVariableLocal school district funding
Fire ProtectionVariableFire department services by district
Special DistrictsVariableWater, sewer, drainage districts
Total Millage56.55Combined rate for FY 2025-2026

Note: The 56.55 mill rate represents the combined total for properties within standard taxing districts. Your actual rate may differ based on your specific location within Rankin County and which special districts serve your area. Fire departments funded through county property taxes include multiple districts that receive equal distribution of dedicated millage. Contact the Rankin County Tax Assessor for your property's exact millage breakdown.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Rankin 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 property taxes in Rankin County are triggered by changes in property ownership, new construction, or significant improvements that increase a property's assessed value mid-year. When these events occur, the county calculates additional taxes owed for the remaining portion of the tax year based on the increased assessment.

For example, if you purchase a home in Rankin County in September and the new assessment is higher than the previous owner's assessment, you would receive a supplemental tax bill covering the difference for the remaining months of the fiscal year. Similarly, if you complete a major home renovation or addition, the increased value would trigger supplemental taxes once the improvement is assessed. These supplemental bills are separate from your regular annual property tax bill and have their own due dates.

Example Calculation

Example 1: $300,000 Home

  • Market Value: $300,000
  • Assessed Value (10%): $30,000
  • Homestead Credit Applied: -$7,500 (if eligible, requires application)
  • Net Taxable Value: $22,500
  • Annual Tax (56.55 mills): $1,272
  • Monthly Escrow: $106

Example 2: $600,000 Home

  • Market Value: $600,000
  • Assessed Value (10%): $60,000
  • Homestead Credit Applied: -$7,500 (if eligible, requires application)
  • Net Taxable Value: $52,500
  • Annual Tax (56.55 mills): $2,969
  • Monthly Escrow: $247

Example 3: $1,000,000 Home

  • Market Value: $1,000,000
  • Assessed Value (10%): $100,000
  • Homestead Credit Applied: -$7,500 (if eligible, requires application)
  • Net Taxable Value: $92,500
  • Annual Tax (56.55 mills): $5,231
  • Monthly Escrow: $436

Note: These calculations assume eligibility for homestead credits, which require separate application with the Tax Assessor's office and are not automatically applied.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Rankin County require property tax escrow accounts to ensure timely payment of property taxes. Your lender collects monthly escrow payments as part of your mortgage payment, typically calculated by dividing your annual property tax bill by 12 months, plus a small buffer amount. The lender holds these funds in an escrow account and pays your property taxes directly to Rankin County when due.

Lenders typically conduct annual escrow analyses to adjust your monthly payments based on actual tax bills and any changes in assessed value or tax rates. If your property taxes increase due to reassessment or millage rate changes, your monthly escrow payment will be adjusted accordingly. Property owners should review their annual escrow statements carefully and can request escrow account details from their lender. If you pay taxes directly without escrow, remember that Rankin County property taxes for FY 2025-2026 are due by March 3, 2026, due to a state-granted extension.

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 Rankin County property taxes due for FY 2025-2026? A: Property taxes are due by March 3, 2026, due to a state extension granted by Governor Tate Reeves for impacted counties. There is an automatic 14-day grace period for vehicle tag renewals.

Q: What homestead tax credits are available and how do I apply? A: Eligible homeowners can apply for homestead exemption, which caps annual assessment increases and may provide tax savings. You must complete an application with the Rankin County Tax Assessor's office. You cannot claim residency in another jurisdiction for Mississippi income tax purposes while claiming this credit.

Q: Are tax credits automatic or do I need to apply? A: Most tax credits require application and are not automatically applied. Contact the Rankin County Tax Assessor's office to determine your eligibility and obtain the necessary application forms.

Q: How does the homestead credit work? A: The homestead credit limits annual increases in your property's assessed value rather than reducing the market value. This helps protect homeowners from large tax increases due to rapidly rising property values. Military personnel stationed outside Mississippi can qualify if they maintain Mississippi residency.

Q: When does the county reassess properties? A: Mississippi law requires periodic reassessment of all property. Contact the Rankin County Tax Assessor's office for the current assessment schedule and information about appealing your assessment if you believe it's incorrect.

Q: What are the penalties for late payment? A: Late payment penalties and interest apply after the March 3, 2026 deadline. Contact the Rankin County Tax Collector's office for specific penalty rates and collection procedures.

Q: Can I pay my property taxes online? A: Check the Rankin County Tax Collector's website for available online payment options and accepted payment methods.

Q: Why do tax rates vary within Rankin County? A: Your total millage rate depends on which special taxing districts serve your property, including school districts, fire departments, and other municipal services. Properties in different areas may have different combinations of these districts, resulting in varying total tax rates.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
Mississippi - Local standards: Housing and utilitiesirs.gov
02
County
2014-2025 County and City Millage Ratesdor.ms.gov
03
Tax Doc
PROPERTY TAX DATA | Mississippi Department of Revenuedor.ms.gov
04
Tax Doc
Alert Center • Property Tax Payment Extension - March 3desotocountyms.gov
05
County
Rankin County Tax Collectornacdashboard.nara.gov
06
County
Rankin County School Districtdor.ms.gov
07
HB1049 (As Introduced) - 2026 Regular Sessionbillstatus.ls.state.ms.us
08
Homestead Exemptiondor.ms.gov
09
Tax Doc
Mississippi Property Taxesco.warren.ms.us
10
County
RANKIN COUNTY, MISSISSIPPI SHAD WHITEosa.ms.gov
All sources verified as of 2025 Tax Year

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