Walton Presents 2025 Tax Rolls – Property Values Up
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Yalobusha County Tax Assessor/Collector Michael Walton (second from left) presented the tax rolls to county supervisors during the July 7 meeting in Coffeeville.
COFFEEVILLE – An annual tradition, Yalobusha County Tax Assessor/Collector Michael Walton presented the 2025 tax rolls to the Board of Supervisors during their “first Monday” meeting on July 7 in Coffeeville.
Walton reported that the county’s taxable value for the upcoming fiscal year increased 14 percent, climbing from 79,271,317 in the current fiscal year to 90,164,503 for the 2025–2026 fiscal year that begins October 1.
The taxable value—which is used to calculate property taxes—is determined by subtracting homestead exemptions and industrial tax exemptions from the total assessed value in the county. The total assessed value is calculated by adding the value of automobile tags, mobile homes, public utilities, land, and personal property tax rolls.
For the upcoming year, Walton reported 10,907,863 in homestead exemptions and 14,756,226 in industrial tax exemptions.
Industrial exemptions are granted on a case-by-case basis for new industry investments and typically last for 10 years.
This year’s increase to 90,164,503 follows Walton’s earlier warnings that taxable property values would rise after a state-mandated update to the county’s property index. The property index is a tool set by the Mississippi Department of Revenue to ensure assessments reflect current market conditions and are uniform statewide. Each county is required to keep its index within 10 points of the state’s benchmark.
Walton explained that the state index for the northern half of Mississippi increased to 1.25, which triggered an adjustment to Yalobusha County’s index—from 1.08 to 1.15. The index is a multiplier used in the formula for determining the assessed value of all real property in the county.
“This isn’t something the county did—this came from the Department of Revenue,” Walton said earlier this year. “Our job is to follow state law and ensure the rolls are fair and accurate.”
The increase in assessments does not apply to homeowners 65 and older. Under a law enacted in 2018, property values for homeowners 65 and older are frozen. The frozen value remains in place unless additions or improvements are made to the property, shielding seniors from increased property assessments.
Next Steps
With the presentation of the tax rolls, property owners may now inspect their assessments. Objection hearings are scheduled for 9 a.m. on Monday, August 4, at the Water Valley courthouse, and again at 9 a.m. on Tuesday, August 5, at the Coffeeville courthouse. August 5 is the deadline for objections.
Once the rolls are finalized, supervisors, city officials, and school board trustees will set final millage rates for the 2025–26 fiscal year.
