Stewart, Mississippi Property Taxes
The median property tax rate in Stewart, MS is 0.92%, slightly below the national median of 0.99% and significantly lower than the Mississippi state median of 1.31%. With the median home value in Stewart at $37,646, the typical annual property tax bill is approximately $241, well below the national median of $2,690. Property taxes in Stewart are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stewart's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Stewart or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stewart, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$346
Ownwell’s Stewart Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stewart with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stewart to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Stewart, Mississippi
Property taxes in Stewart, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stewart is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Stewart set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stewart estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Stewart's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 39767 has the highest median property tax rate of 0.92%, while the lowest median tax rate also stands at 0.92% in the same zip code. Understanding how these areas compare with Stewart provides valuable insights into the varying tax landscape across Choctaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stewart Tax Rate
0.92%
Average Choctaw County Tax Rate
0.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stewart, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39767 | 0.40% | 0.41% | 0.92% | 1.21% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Stewart, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stewart, Mississippi. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Choctaw County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Stewart are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Stewart helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Stewart, the median home price is $37,646, with tax bills ranging from $109 at the 25th percentile to $634 at the 90th percentile. The zip code 39767 has the highest median tax bill at $241.
Average Stewart Assessed Value
$37,646
Average Choctaw County Assessed Value
$55,604
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stewart, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39767 | $6,675 | $14,585 | $37,646 | $61,920 | $81,008 |
Source: Ownwell
Property Tax Bills Across Stewart, Mississippi
In Stewart, located in Choctaw County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by local assessors. For instance, with a median home price of $37,646, homeowners can expect their property tax bills to vary significantly. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions. In Stewart, the tax bill for the 25th percentile is $109, while the 75th percentile sees a tax bill of $388. At the 90th percentile, homeowners might face a tax bill as high as $634. These property taxes impact homeowners by contributing to local services such as schools, emergency services, and infrastructure. While the highest and lowest median tax bills in the area both stand at $241 in the 39767 zip code, it's important to note that these figures can vary depending on the specific property and its assessed value. Comparing these figures to the national median property tax rate of 0.99% highlights how local rates and home values can significantly influence tax obligations.
Average Stewart Tax Bill
$241
Average Choctaw County Tax Bill
$414
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Stewart, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39767 | $42 | $109 | $241 | $388 | $634 |
Source: Ownwell