Retirees do not pay state income tax on retirement income. Social security income is not taxed, regardless of total income. Qualified retirement income includes IRA’s, 401/403’s, Keogh’s, public and private pension funds, and interest income from federal securities and obligations of the State of Mississippi and its political subdivisions. Vehicles are assessed at 30% of market value. Automobile license tags rarely cost more than $300 per year. The automobile license tax is reduced by a percentage assigned each year by the state legislature.
The state sales tax rate is 7% for most goods and services. There is no local sales tax except for a 2% tourism or hotel/motel tax. Prescription drugs, motor fuels, health care services, residential utilities, and newspapers are not subject to sales taxes.
Tishomingo County has the highest percentage of retirees in the state. The crime rate is among the lowest in the USA. The largest rural healthcare system in the USA has an acute care facility in the community. Several long-term care facilities are also located in the community. The community is within 30 to 90 minutes driving time of world class medical facilities, shopping, educational facilities, and cultural amenities in Corinth, Memphis, Jackson, Tupelo, Florence, and Huntsville. The local school system is rated among the top three in the state with students scoring above the national average on the ACT. The community is located near a number of colleges and universities. Outdoor recreation and shopping opportunities are numerous.