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INSANE property tax in MS?!??

Christie OQuin
6 days ago

Guys I’m about to pull my hair out over this.


- We are currently building (roughly 2 more months to go) and we are talking with our bank to get the construction loan turned over to a mortgage loan. When we got the loan estimate, I about fainted when I saw property tax and was curious if this is a mistake???


Just some facts/numbers:

Copiah County MS

Est home price from builder: $278,000

12 acres of rural land we own outright

1,590 sq ft house

Only financing $103,000 from bank

Appraisal before building was $355,000


We got the loan estimate today and it showed the principal at roughly $450 (which is fine) but property tax at $545 a month!!!! How is this possible and does this sound correct? Putting our monthly payment at almost $1,000 a month for a 103k loan on a 1,590 sq ft house in rural Mississippi.


I immediately looked back at the appraisal and saw he put on there $4,730 annually for property tax. My parents built last year, same amount of land, same area, same sq ft, roughly same home finishes and their property taxes are $1,800.

What on earth can be done? Is there an error somewhere?!


Thanks!!!

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