add to report
remove from report
Create Report

Community Info  | Taxes

One of the many advantages that businesses and individuals have in Rankin County are the low tax rates as compared with other areas and other states. The State of Mississippi’s low competitive tax rates coupled with Rankin County’s low tax rates allow your business to pay less in overall taxes and increase your bottom line. A comprehensive package of tax breaks and incentives are possibly available to companies based on job creation, payroll, and capital investment. Just another reason that Rankin County is your best place to live, work, and play!

All businesses in Mississippi are subject to property taxes. These taxes are levied by three main taxing entities; cities, school boards, and counties.

Property Tax
Counties and municipalities levy a property tax on real and tangible personal property in Mississippi. Generally, property is assessed at 15% of true value. This assessed value is then multiplied by the millage rate to determine the annual tax liability. Each city and/or county sets its tax rate, or millage. Mississippi does not have a state property tax.

Property Tax Example
Assume the following facts:
A manufacturing plant is located within a municipality where the total of all taxes is 78.5 mills.
The true value of the taxable property is:

Land: $10,000
Machinery and Equipment: $700,000
Buildings: $1,500,000
Raw Materials: $200,000
Finished Goods: $500,000
Total: $2,910,000

The assessed value is calculated by multiplying the total by 15% (15% x $2,910,000) =

The tax liability, before any exemptions, is calculated by multiplying the assessed value by the millage:
($436,500 x .0785) = $34,265



March 01, 2018

Pelahatchie High School (PHS) and Multicraft International accepted the Governor’s…

Read more... divider

February 21, 2018

Students from Northwest Rankin Middle School in Flowood won the 2018 Mississippi…

Read more... divider

January 26, 2018

Community Bank is pleased to announce its plans to construct a new headquarters…

Read more... divider
Click here to go to the News Archive

Click Here to View Map

Learn more... title
Designed and Maintained by Marketing Alliance, Inc.