Mississippi Tax Deadlines
Personal Property Tax Due – February 1st 2023
Real Property Tax Due – February 1st 2023
Mobile Home Tax Due February 1st 2023
A tax sale occurs when there are overdue taxes on real estate. Mississippi tax sales are typically held the last Monday in August and are well-noticed in local newspapers. At the tax sale, the taxes are auctioned by competitive bid using an overbid system.
Tax Sales Process
When a property owner fails to pay their real property tax bill in Mississippi, the county/municipality will have a public auction to sell a lien on the property for the overdue amount. The main reason behind such a sale is for the county/municipality to collect the much-needed revenue to allow the entity to function and meet budgets. The county uses this tax money to pay for schools, public services, libraries, roads, parks, etc. When taxes are not paid, county governments do not have the operating funds for these uses.
One common misconception among new tax lien buyers in MS is the ability to possess the property right away after purchasing a tax lien, which is not the case. With tax lien auctions, you are not purchasing the property, but you are purchasing a lien against the property. Your tax lien purchase is a legal claim against an owner’s property to secure payment of the property taxes they owe with interest.
How long can property taxes go unpaid in Mississippi?
A tax lien is valid for seven years unless a continuation is filed before it expires. The continuation extends the lien another seven years. Mississippi law allows continuations on state liens until they’re paid in full; so continuations can be filed repeatedly making a tax lien valid indefinitely.