How much are property taxes?
The annual property tax on a $100,000 home in Clinton is approximately $950 per year. This figure is based on an assessed value of $10,000 (ten percent of real value) times the millage rate of 124.97 per $1,000 assessed value, less a $300 deduction for Homestead Exemption. For homeowners over the age of 65, the same $100,000 home would have a property tax of approximately $500, which is based on an assessed value of $4,000 (four percent of real value). For more information, contact the Hinds County Tax Assessor at 601-714-6278.
A. The property tax will vary somewhat from one community to the next. As a rule of thumb, we multiply the property value by 1.7% to get in the ball park. The property tax bill for the current year is mailed November 1st. The tax can be paid any time before becoming delinquent April 1st. Property owners receive a 4% discount for paying in November, 3% in December, 2% in January, 1% if paid in February. If you have an escrow account with your lender for taxes, the lender will receive the tax bill and you get a copy for your records. Homestead exemption applies to owners who make the property their primary residence and reduces the taxable value by $25,000. This exemption results in an annual savings of about $500. On January 29, 2008, voters approved an additional $25,000 exemption excluding the portion that goes to schools. A property that qualified for Homestead Exemption on January 1st will be taxed as such when the bill comes out in November even if the property is sold during the c
