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Stephanie Prisock Nix

Broker Associate

My Blog

Wednesday Wisdom - Homestead Exemption

12/6/2017

After more than 21 years as a licensed agent, I've amassed a wealth of knowledge that I have always been happy to share.  Agents and clients often call with questions and I am glad to answer the ones I can, and point them in the right direction for any I can not answer.  To that end, I've decides to start a weekly knowledge share.  

This week, since we are nearing the end of the year, I will talk about Homestead exemption.  In Mississippi, you get a discount, or exemption from the full property tax on your primary residence.  This is the place you call home, have your car tags titled to, etc. Your eligibility to claim Homestead exemption is based, in part, on you both owning and occupying this primary residence on December 31st.  If you own and occupy on December 31st of the current year, then beginning January 1 - March 31 you can go to your county Tax Assessor's Office and file for Homestead Exemption.  Be sure and visit the website of, or call, your tax assessor to find out what information you will need with you when you go to file.  Once you file, you don't need to file again in subsequent years, unless there is a change in your status.  If you marry, divorce, or lose a spouse to death in the current year, then in January you will need to go and file again due to the change in occupancy. Also, once you celebrate 65 glorious years of life, you can go the following January and file for your Over 65 Exemption.  There may be other exemptions as well if you qualify such as disabled so be sure and contact your tax assessor, or visit their website to see what benefits you may be eligible to receive. 

Now, for the challenge - you are purchasing a property and all set to close on December 30th and plan move in right away. The sellers moved months ago and have a new home in another state.  If your closing is delayed until after January 1st, you will not have Homestead Exemption next year and the property taxes will be significantly higher.  Make sure your agent informs your lender and the closing attorney of the vacancy so that taxes can be correctly pro-rated at closing, your monthly payment can be adjusted accordingly, and you are not surprised with an escrow deficiency and an increased mortgage payment the following year to make up for that deficiency.  If this is not corrected before closing, recovering the appropriate credit from the seller later may prove challenging, maybe even impossible. 

Have a question you would like answered, or a topic you would like to see discussed?  Email me stephanienix@remax.net

Fun in the Summer Sun

7/8/2012

A lazy summer Saturday for my husband and I means a ride on some Mississipi backroads on our Harley Davidson motorcycle.  When you are rolling down those curvey backroads under the shade of beautiful old hardwood trees, the lack of all the concrete and asphalt that you find in town means cooler air and a pleasant ride even when the temps are nearing 100 degrees. 

We use the these days to explore historical sites like the Ruins of Windsor south of Port Gibson, MS on   Road.  If you are not familiar with the history of this once grand southern home, take the drive, stroll the grounds and read about the once treasured home of the     family.  When you're done, continue on down this road until you arrive on Hwy 61 south of Alcorn State University and drive on over to the Old Country Store.  Here you will find Mr. D of FoodNetwork fame serving up what I believe to be the beset fried chicken in the world, except for Momma's of course.  Mr. D has a fine buffet of good country cooking. The last time we were there I had turnip greens, collard greens, and mustard greens.  I must say I like greens!  In addition to the selection of greens, we had field peas, green beans, macaroni and cheese, On this Saturday we were showing our newly transplanted friends from Cincinnati what living in the south is all about.  Denny Hilshorst and his wife Jerri Hilshorst traveled with us and were introduced to find southern cooking and Mr.D's singing talent too. 

Metro Jackson Real Estate

4/29/2009

Visiting with other RE/MAX agents and brokers in Jackson today, we are all seeing increased activity in our local marketplace.  Listings are increasing, as are pendings(properties under contract).  This is great news for the Spring/Summer market that is typically the busier time, and in this current economy-as portrayed by our media- it is exceptional news!

Stephanie Prisock Nix, Madison, MS

RE/MAX 1st Class

www.metrojacksonhomesearch.com

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