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Updated 2025 Tax Year

Smith County
Property Tax Guide

Everything you need to know about property taxes in Smith 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
37.19 mills (projected 2025), varies by special districts within county
Exemptions
4+ Available
Section 1

How Property Tax Works

Smith County, Mississippi operates on an ad valorem property tax system that serves as the primary funding source for essential county services, including road maintenance, public safety, administration, and debt service. Property taxes in Smith County are assessed annually based on the true market value of real and personal property, with the tax rate expressed in mills (one mill equals $1 per $1,000 of assessed value). The county's property tax system also funds various special districts and municipal services depending on your specific location within the county.

The 2025 property tax rate for Smith County is projected at 37.19 mills, though this rate is set annually by the Board of Supervisors and typically finalized by early spring. Your actual tax rate may vary depending on which special taxing districts serve your property location, such as school districts, fire districts, or municipal improvement districts. Property owners should note that Mississippi assesses property at 100% of true market value, though various tax credits may be available to qualifying applicants to reduce their final tax liability.

Section 2

What Makes Up Your Tax Bill

ComponentRate (Mills)Description
County General FundVariableBasic county operations, road maintenance, public safety
County Debt ServiceVariableFinancing for county equipment and infrastructure purchases
School DistrictVariableLocal school district operations and facilities
Special DistrictsVariableFire districts, drainage districts, other local services
Total Projected Rate37.19Combined rate for FY 2025-2026 (subject to Board approval)

Note: The exact breakdown of the 37.19 mill rate among these components varies and is determined annually by the Board of Supervisors. Recent debt obligations issued in late 2024 and early 2025, totaling over $1 million in financed purchases, are funded through ad valorem taxes and may impact future rates. Special taxing districts within Smith County may result in different total rates for properties in different locations.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Smith 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 Smith County are additional property tax assessments that occur when there are changes in property ownership, new construction, or significant improvements to existing properties during the tax year. These supplemental bills are calculated based on the difference between the old and new assessed values, prorated for the portion of the tax year remaining after the change occurs.

For example, if you purchase a home in Smith County in September and the new assessment increases the property value from $200,000 to $250,000, you would receive a supplemental tax bill for the $50,000 increase in assessed value. This supplemental tax would be calculated at the current 37.19 mill rate ($1,859.50 annually) and prorated for the remaining months of the fiscal year. New construction projects that add value to your property will similarly trigger supplemental assessments once the improvements are completed and reassessed by the county assessor.

Example Calculation

Example 1: $300,000 Home

  • Market/Assessed Value: $300,000
  • Less: Homestead Credit (if applied): $75,000 exemption
  • Net Taxable Value: $225,000
  • Annual Tax: $225,000 × 37.19 mills = $8,367.75
  • Monthly Tax (escrow): $697.31

Example 2: $600,000 Home

  • Market/Assessed Value: $600,000
  • Less: Homestead Credit (if applied): $75,000 exemption
  • Net Taxable Value: $525,000
  • Annual Tax: $525,000 × 37.19 mills = $19,524.75
  • Monthly Tax (escrow): $1,627.06

Example 3: $1,000,000 Home

  • Market/Assessed Value: $1,000,000
  • Less: Homestead Credit (if applied): $75,000 exemption
  • Net Taxable Value: $925,000
  • Annual Tax: $925,000 × 37.19 mills = $34,400.75
  • Monthly Tax (escrow): $2,866.73

Note: Homestead exemption requires annual application and is not automatic. Additional tax credits may be available for seniors, disabled veterans, or other qualifying categories - contact the Tax Assessor/Collector for specific eligibility requirements and application procedures.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Smith County require property tax escrow accounts for borrowers who put down less than 20% or request escrow services. Your lender will estimate your annual property tax liability and collect 1/12th of that amount with each monthly mortgage payment. The escrow account ensures funds are available when property taxes become due on February 1st each year (or March 3rd if extended for impacted counties).

Lenders typically conduct annual escrow analyses to adjust your monthly payment based on actual tax bills and account balances. If your property taxes increase due to reassessment or rate changes, your monthly escrow payment will be adjusted accordingly. Property owners with escrow accounts should verify that their lender has received and paid the correct tax amount, as you remain ultimately responsible for ensuring taxes are paid on time. You can verify payment status through the Smith County Tax Collector's office or online payment portal if available.

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 Smith County property taxes due for FY 2025-2026? A: Property taxes are due by February 1st, with a possible extension to March 3, 2026 for impacted counties. If February 1st falls on a weekend or holiday, payments can be made the following Monday without penalties.

Q: What is the homestead tax credit and how do I apply? A: The homestead exemption provides a $75,000 reduction in taxable value for qualifying homeowners. Applications are accepted January 2nd through April 1st at the Tax Collector/Assessor's Office. This credit is NOT automatic and must be applied for annually.

Q: Are there other tax credits available in Smith County? A: Yes, various tax credits may be available for seniors, disabled veterans, and other qualifying categories. Contact the Tax Assessor/Collector to determine eligibility and obtain application forms. All credits require formal application and approval.

Q: How often are properties reassessed in Smith County? A: Mississippi law requires periodic reassessment of all property. Contact the Tax Assessor's office for the current assessment schedule and your property's last assessment date.

Q: Can I appeal my property tax assessment? A: Yes, property owners can appeal assessments through the county assessment appeal process. Contact the Tax Assessor/Collector for appeal procedures and deadlines.

Q: What happens if I pay my property taxes late? A: Late payments are subject to penalties and interest as prescribed by Mississippi state law. Contact the Tax Collector for specific penalty rates and payment options.

Q: Does Smith County offer online property tax payments? A: Contact the Smith County Tax Collector's office directly to inquire about online payment options and accepted payment methods.

Q: Why might my tax rate differ from the 37.19 mill county rate? A: Your actual rate may vary based on special taxing districts serving your property location, such as municipal districts, fire districts, or special assessment areas. The Tax Assessor can provide your property's specific rate breakdown.

Q: How do special district taxes work in Smith County? A: Special districts provide specific services like fire protection or drainage and may levy additional taxes on properties within their boundaries. These taxes appear on your property tax bill and vary by location within the county.

Verified Sources

Backed by 10 Official Government Sources

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

01
SHAD WHITEosa.ms.gov
02
County
2014-2025 County and City Millage Ratesdor.ms.gov
03
County
Board of Supervisors - Smith County, Mississippismithcountyms.gov
04
County
Homestead Exemption - Smith County, Mississippismithcountyms.gov
05
LOCAL PROPERTY APPRAISAL | Mississippi ...dor.ms.gov
06
Tax Doc
Alert Center • Property Tax Payment Extension - March 3desotocountyms.gov
07
County
Tax Assessor/Collector - Smith County, Mississippismithcountyms.gov
08
What is the special or over-65 homestead exemption and who ...smithcountyms.gov
09
County
SMITH COUNTY, MISSISSIPPI SHAD WHITEosa.ms.gov
10
Tax Doc
Supplemental Tax Bill Liability - Property Transferred from ...boe.ca.gov
All sources verified as of 2025 Tax Year

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