Property Tax question

[FQDawg]

In Mississippi, how do property taxes work? Are they paid at the start of the year or at the end of the year? How does it work if you buy a house in mid-year? Do you have to reimburse the seller for the they've already paid for the year?

 

[patdog]

Taxes for 2017 will be due by Feb 1, 2018, based on assessed value from early 2017. If you buy or sell property, the seller will pay his share of the 2017 taxes to the buyer & the buyer will pay the full tax to the county.

 

[FQDawg]

Is that all done at closing?

 

[patdog]

Yeah. It'll be on the closing statement. You'll use the previous owners homestead exemption that 1st year. But you need to file yourself in early 2018.