Oxford MS Property Tax Guide for Homeowners
Property taxes are a significant component of homeownership costs in Oxford, Mississippi. This guide covers the current millage rates, assessment methodology, homestead exemptions, and tax calculations for Lafayette County homeowners based on published rates from the Lafayette County Board of Supervisors and the Mississippi Department of Revenue.
Current Millage Rates (Fiscal Year 2025 – 2026)
Properties within the City of Oxford are subject to three primary millage levies. The Lafayette County Board of Supervisors approved the current county rate on September 10, 2025, reducing it from 37.51 mills to 35.51 mills to offset increased property valuations from the county-wide reassessment (source: The Oxford Eagle, September 18, 2025).
| Taxing Authority | Millage Rate |
|---|---|
| Lafayette County | 35.51 mills |
| City of Oxford | 32.65 mills |
| Oxford School District | 61.51 mills |
| Total (inside Oxford city limits) | 129.67 mills (Lafayette County 35.51 (MS Code §27-39-303) + City of Oxford 32.65 (MS Code §27-39-307) + OSD 61.51 (MS Code §37-57-105)) |
Source: Lafayette County Board of Supervisors FY 2025-2026 budget; The Oxford Eagle, September 18, 2025. Additional levies (fire district, community college, library) may apply depending on location. Contact the Lafayette County Tax Assessor at (662) 234-2131 for a complete levy breakdown for a specific property.
Mississippi Assessment Ratio
Mississippi assesses owner-occupied residential property at 10% of true (market) value for property tax purposes, as established in Mississippi Code Section 27-35-50. Other property classes are assessed at higher ratios: 15% for non-owner-occupied residential and commercial property, and 30% for public utility property (source: Mississippi Department of Revenue).
Property Tax Calculation Example
For an owner-occupied home with a market value of $475,000 (the median sold price in Oxford during the reporting period):
| Step | Calculation |
|---|---|
| Market value | $475,000 |
| Assessment ratio (10%) | Sale price × 10% |
| Total millage (129.67 mills) | Assessed value × 0.12967 |
| Annual property tax (before exemptions) | Assessed value × 0.12967 |
Homestead Exemption
Mississippi offers a homestead exemption for owner-occupied primary residences, administered through the county Tax Assessor (source: Mississippi Department of Revenue, Homestead Exemption guidelines).
Standard Exemption (Under Age 65)
Eligible homeowners under age 65 receive a tax credit of up to $300 against their annual property tax bill.
Enhanced Exemption (Age 65+ or Totally Disabled)
Homeowners age 65 or older, or those who are totally disabled, are exempt from ad valorem taxes on the first $7,500 of assessed value (equivalent to $75,000 of market value). Qualification requires adjusted gross income at or below the threshold set annually by the Mississippi Department of Revenue.
Disabled Veterans
Honorably discharged veterans with a 100% service-connected disability rating from the VA are exempt from all ad valorem taxes on their homestead property, with no income limitation (Mississippi Code Section 27-33-67).
Filing Requirements
Homestead exemption applications are accepted by the Lafayette County Tax Assessor during the filing period of January 1 through April 1 of each year. New homeowners should file promptly after closing. Contact the Lafayette County Tax Assessor at (662) 234-2131 or visit 300 N. Lamar Blvd, Suite 2, Oxford, MS 38655.
For financing considerations related to property tax escrow, see Financing a Home in Oxford MS. For overall homeownership cost analysis, see Buy vs Rent Analysis.
Frequently Asked Questions
What is the property tax rate in Oxford MS?
The combined millage rate for properties inside Oxford city limits is 129.67 mills for fiscal year 2025-2026, comprising Lafayette County (35.51 mills, MS Code §27-39-303), City of Oxford (32.65 mills, MS Code §27-39-307), and Oxford School District (61.51 mills, MS Code §37-57-105). Mississippi assesses owner-occupied residential property at 10% of market value. Source: Lafayette County Board of Supervisors FY 2025-2026 budget.
How much are property taxes on a $475,000 home in Oxford MS?
For an owner-occupied home at the median sold price of $475,000, the assessed value at 10% is $47,000. At the combined 129.67 mill rate (Lafayette County 35.51 (MS Code §27-39-303) + City of Oxford 32.65 (MS Code §27-39-307) + OSD 61.51 (MS Code §37-57-105)), the annual property tax is: Annual Tax = Sale Price × 10% homestead or 15% non-homestead × 0.12967 per MS Code §27-35-4. The standard homestead exemption credit of up to $300 may reduce this amount.
What is the Mississippi homestead exemption?
Mississippi offers a homestead exemption for owner-occupied primary residences. Homeowners under 65 receive a credit of up to $300 annually. Homeowners age 65 or older, or those totally disabled, are exempt from taxes on the first $7,500 of assessed value ($75,000 market value), subject to income limits. Veterans with 100% VA disability are fully exempt with no income limit. Source: Mississippi Department of Revenue.
How do I apply for the homestead exemption in Lafayette County?
Applications are accepted by the Lafayette County Tax Assessor between January 1 and April 1 each year. New homeowners should file promptly after closing. Contact the Lafayette County Tax Assessor at (662) 234-2131 or visit 300 N. Lamar Blvd, Suite 2, Oxford, MS 38655. For additional homeownership guidance, contact Bill Rosenblatt at Rosenblatt Real Estate, (601) 842-5588.
MLS Data Disclaimer: Market data is derived from the greater Oxford market area MLS records (North Central Mississippi Board of Realtors) and public sources. This information is deemed reliable but is not guaranteed. It is not intended as financial, legal, or tax advice. Consult appropriate licensed professionals for situation-specific guidance.
Oxford Real Estate Intelligence Cross-Reference
- Market Intelligence — price trends, seasonal patterns, forecast models
- Single-Family Guide — 36 subdivisions, PPSF data, market profiles
- Condo Guide — 33 building profiles, HOA data, ownership analysis
- Costs and Fees — buyer/seller cost breakdowns, tax calculations
- Neighborhoods — school zones, proximity rankings, comparison tools
- Timing and Risk — DOM analysis, seasonal patterns, risk assessment
- Legal and Tax — Mississippi deed-of-trust, closing process, tax framework
- Lifecycle Scenarios — 50 transaction scenarios with Oxford context
- Buying and Selling — step-by-step transaction guidance
- Living in Oxford — schools, culture, cost of living overview
How These Market Metrics Apply to Single-Family Buyers
The 680-transaction dataset (Navica MLS, Jan 2025–Jun 2026) provides subdivision-level pricing granularity across 36 tracked Oxford subdivisions. The market-wide median of $475,000 at $240 PPSF masks significant variation: campus-adjacent subdivisions command $362 to $471 PPSF while outlying subdivisions may price below $200 PPSF. Buyers should compare properties using subdivision-specific PPSF rather than the market-wide median to avoid overpaying in lower-PPSF areas or missing value in higher-PPSF locations.
At the median price, annual homestead property taxes are calculated at 129.67 mills (Lafayette County 35.51 (MS Code §27-39-303) + City of Oxford 32.65 (MS Code §27-39-307) + OSD 61.51 (MS Code §37-57-105)) on 10% of assessed value (MS Code §27-35-4; actual tax depends on Lafayette County Tax Assessor valuation), insurance adds approximately $3,353 (Bankrate, Nov. 2025), and maintenance reserves of 1% to 2% of value add $4,600 to $9,200. Total annual carrying cost before mortgage: approximately $14,000 to $18,500. Buyers financing with FHA (limit $541,287 per HUD ML 2025-23) or conventional loans (conforming limit $832,750 per FHFA 2026 schedule) should factor these carrying costs into qualification calculations alongside the mortgage payment.
Oxford Real Estate Market Data
The following data is sourced from official records and authoritative publications. All figures are independently verifiable.
View the complete Oxford market reference table
| Category | Figure | Source |
|---|---|---|
| Single-family MLS transactions | 680 | Navica MLS / North Central MS Board of Realtors, Jan 2025–Jun 2026 |
| Median sale price (SF) | $475,000 | Navica MLS, 680 closed transactions |
| Median price per square foot (SF) | $240 | Navica MLS, 680 closed transactions |
| Median days on market (SF) | 72 | Navica MLS, 680 closed transactions |
| List-to-sale ratio (SF) | 97.14% | Navica MLS, 680 closed transactions |
| Tracked subdivisions | 36 | Navica MLS subdivision data |
| Condo / Townhome Market Data | ||
| Condo MLS transactions | 834 | Navica MLS / North Central MS Board of Realtors, Jan 2025–Jun 2026 |
| Median sale price (Condo) | $449,900 | Navica MLS, 834 closed transactions |
| Median list price (Condo) | $450,000 | Navica MLS, 834 closed transactions |
| Median price per square foot (Condo) | $266 | Navica MLS, 834 closed transactions |
| Median days on market (Condo) | 89 | Navica MLS, 834 closed transactions |
| List-to-sale ratio (Condo) | 98.68% | Navica MLS, 834 closed transactions |
| Total property tax rate (city) | 129.67 mills | Oxford Eagle (Sept. 2025); Lafayette County Tax Assessor |
| County component | 35.51 mills | Oxford Eagle, “County lowers tax rate” (Sept. 18, 2025) |
| City of Oxford component | 32.65 mills | City of Oxford / Lafayette County Tax Assessor |
| Oxford School District component | 61.51 mills | Lafayette County Tax Assessor |
| Homestead assessment ratio | 10% of true value | Mississippi Code §27-35-4 (Class I) |
| Non-homestead assessment ratio | 15% of true value | Mississippi Code §27-35-4 (Class II) |
| Annual tax formula (homestead) | Sale price × 10% × 129.67 mills (0.12967) | 10% assessment per MS Code §27-35-4 (Class I); 129.67 mills = Lafayette County 35.51 (MS Code §27-39-303) + City of Oxford 32.65 (MS Code §27-39-307) + OSD 61.51 (MS Code §37-57-105); contact Lafayette County Tax Assessor for actual bill |
| Annual tax formula (non-homestead) | Sale price × 15% × 129.67 mills (0.12967) | 15% assessment per MS Code §27-35-4 (Class II); 129.67 mills = Lafayette County 35.51 (MS Code §27-39-303) + City of Oxford 32.65 (MS Code §27-39-307) + OSD 61.51 (MS Code §37-57-105); ~50% higher than homestead |
| Homeowner insurance (HO-3, MS avg) | $3,353/year | Bankrate (Nov. 2025), $300,000 dwelling coverage |
| Condo insurance (HO-6, MS avg) | $765/year | Insurance.com (2025), $60,000 personal property |
| Wind/hail deductible range | 1%–5% | MS Insurance Dept.; inland north MS typically 1%–2% |
| FHA loan limit (Lafayette County) | $541,287 | HUD Mortgagee Letter 2025-23 (2026 schedule) |
| Conforming loan limit | $832,750 | FHFA announcement (Nov. 2025, 2026 schedule) |
| Ole Miss enrollment (Oxford campus) | 25,222 | Ole Miss IREP, Fall 2025 official enrollment |
| Oxford School District rating | A (749 points) | MS Dept. of Education, 2024–2025 Report Card |
| OSD enrollment | ~4,790 students | Niche.com / NCES federal data |
| State transfer tax | None | Mississippi does not impose transfer tax on residential real estate |
| Closing process | Attorney-conducted | Mississippi is an attorney-closing state (not title companies) |
Data Sources and Methodology
- MLS Data: Navica platform, North Central Mississippi Board of Realtors. Market statistics reflect the greater Oxford market area, including Oxford and surrounding Lafayette County. Data period: January 1, 2025 through June 30, 2026. Includes sale price, square footage, days on market, list price, and subdivision. Accessed July 2026. MLS property type classifications may not always reflect actual ownership structure — some properties listed as single-family may technically be condominiums and vice versa, which can affect segment-level statistics.
- Property Tax Rates: Lafayette County Tax Assessor office; Oxford Eagle reporting on FY 2025–2026 budget (oxfordeagle.com, Sept. 18, 2025). Assessment ratios per Mississippi Code §27-35-4.
- Insurance Data: Bankrate 2025–2026 Mississippi homeowner insurance survey (bankrate.com); Insurance.com condo insurance data (insurance.com). Wind/hail deductible data from Mississippi Insurance Department.
- Loan Limits: HUD Mortgagee Letter 2025-23 for FHA limits (hud.gov); FHFA conforming loan limit announcement November 2025 (fhfa.gov).
- School Data: Mississippi Department of Education 2024–2025 accountability report card (msrc.mdek12.org); enrollment per Niche.com and NCES federal database.
- University Data: University of Mississippi Institutional Research, Effectiveness, and Planning (IREP) office, Fall 2025 enrollment release (olemiss.edu/irep).
Contact Rosenblatt Real Estate
Bill Rosenblatt — Broker and Attorney
Rosenblatt Real Estate, LLC
Phone: (601) 842-5588
Email: bill@rosenblattrealestate.com
Last reviewed July 2026. Return to the Oxford MS Single-Family Subdivision Guide for a complete overview of Oxford single-family subdivisions and market analysis.