MS · #35 by population

Buying a home in Mississippi

Costs and rules that are specific to Mississippi. Main city: Jackson.

In short

Mississippi has no real estate transfer tax, requires an attorney for part of the closing and requires a seller disclosure form. It allows both court and out-of-court foreclosure and is not a community property state. Deadline to appeal a property tax assessment: normally by the first Monday in August before the taxes are due (confirm with your chancery clerk).

Calculate for Mississippi

If you buy

Mississippi state transfer tax

Mississippi has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$186,500
State transfer tax$0
Share of the price—

Default price: the Mississippi median value of owner-occupied homes, $186,500 (Census ACS 2024). Rule: No tax is calculated on the price. The recording fee depends on page count. Who pays: Nobody pays a transfer tax. The sources do not assign the recording fees to buyer or seller; the purchase contract does. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Mississippi transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Mississippi state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Mississippi in short

Is there a real estate transfer tax in Mississippi?

No Mississippi transfer tax was found in the official sources read. The Department of Revenue's list of state taxes shows no deed tax, and recording a deed costs $25 for the first five pages and $1 for each extra page under Miss. Code 25-7-9.

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What closing costs does Mississippi law set?

Mississippi has no official typical closing-cost total. The Department of Revenue lists no tax on deed transfers, and recording a deed costs $25 for the first five pages and $1 for each extra page.

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How is property tax calculated in Mississippi?

Mississippi taxes an owner-occupied home at 10% of true value and applies local mills. The regular homestead exemption is a credit of up to $300, and owners 65 or older or totally disabled are exempt on the first $7,500 of assessed value.

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What is the deadline to appeal a property tax assessment in Mississippi?

In Mississippi, request a hearing with your county Board of Supervisors, normally by the first Monday in August before the taxes are due, and contact your county Chancery Clerk to confirm the procedure.

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Do you need a real estate attorney to close in Mississippi?

No Mississippi statute or Bar material read says a buyer or seller must hire an attorney to close, but anyone who writes a deed, deed of trust or mortgage for a fee is practicing law (Miss. Code 73-3-55), so those documents must come from a Mississippi-licensed lawyer.

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What must a home seller disclose in Mississippi?

A Mississippi seller of a home with one to four dwelling units must give the buyer a Property Condition Disclosure Statement when a licensed broker or salesperson is involved (Miss. Code 89-1-501 to 89-1-523).

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How does foreclosure work in Mississippi?

Mississippi courts describe two routes, a court case and a non-judicial sale under a deed of trust.

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What first-time home buyer programs does Mississippi offer?

In Mississippi, the Mississippi Home Corporation (MHC) offers down payment help of $7,000 (Smart7), $8,000 (Easy8) or $10,000 (Trusty10) as a second mortgage, and up to $25,000 through Home4All.

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Which natural hazards affect home insurance in Mississippi?

Standard Mississippi home insurance does not cover flood. The NFIP covers up to $250,000 for a home and $100,000 for belongings, and FEMA lists 18 major disaster declarations for Hinds County, where Jackson sits, since 1969.

Full Mississippi guide

How much tax when you sell a home in Mississippi?

The federal rule is the same in Mississippi as in every state: if you owned and lived in the home as your main home for at least 2 of the last 5 years, the first $250,000 of gain is excluded, $500,000 for a married couple filing jointly (Section 121, IRS Publication 523). Bought $400,000, sold $750,000: a single owner has $100,000 of taxable gain, $15,000 of federal tax at the 15% long-term rate; a couple filing jointly owes nothing. Mississippi income tax on the gain is not computed here.

Capital gains on a home sale

Mississippi guides

Jackson

Buying a home in Jackson, Mississippi

Professionals in Mississippi

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