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Thursday, November 21, 2024

Lower property tax revenue in Mississippi during Q2

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Chris Graham, Commissioner of Revenue | Mississippi Department of Revenue

Chris Graham, Commissioner of Revenue | Mississippi Department of Revenue

Mississippi collected $7 million in property taxes during the second quarter, a 73.1% decrease from the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $26 million.

Overall, Mississippi collected $2.9 billion in combined tax revenues in the second quarter, an increase from the $2.4 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 Mississippi Tax Collections
Type of TaxAmount (millions)
Property Taxes$7
Sales and Gross Receipts Taxes$1,854
Income Taxes$958
License Taxes$106
Other Taxes$12
Source: U.S. Census Bureau

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