Bay Saint Louis, Mississippi Property Taxes
The median property tax rate in Bay Saint Louis, MS is 1.43%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Bay Saint Louis at $118,728, the typical annual property tax bill reaches $1,609, which is below the national median of $2,690. Property taxes in Bay Saint Louis are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bay Saint Louis'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 Bay Saint Louis 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
Bay Saint Louis, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,698
Ownwell’s Bay Saint Louis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bay Saint Louis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bay Saint Louis 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 Bay Saint Louis, Mississippi
Property taxes in Bay Saint Louis, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bay Saint Louis is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bay Saint Louis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bay Saint Louis 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 Bay Saint Louis's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39520 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Bay Saint Louis provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bay Saint Louis Tax Rate
1.43%
Average Hancock County Tax Rate
1.25%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bay Saint Louis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39520 | 0.95% | 1.15% | 1.43% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Bay Saint Louis, Mississippi
In Bay Saint Louis, Mississippi, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is 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 Hancock 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. In Bay Saint Louis, assessment notices 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 Bay Saint Louis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bay Saint Louis is $118,728, with tax bills ranging from $1,036 at the 25th percentile to $4,037 at the 90th percentile. The highest and lowest median tax bills are both $1,609 in the 39520 zip code.
Property Tax Assessment Values Across Bay Saint Louis, Mississippi
Source: Ownwell
$85,314
$113,461
$141,607
Average Bay Saint Louis Assessed Value
$118,728
Average Hancock County Assessed Value
$120,581
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bay Saint Louis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39520 | $55,054 | $80,518 | $118,728 | $186,096 | $272,962 |
Source: Ownwell
Property Tax Bills Across Bay Saint Louis, Mississippi
In Bay Saint Louis, located in Hancock County, MS, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. This value is a percentage of the home's market value. The tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions. For instance, the median home price in Bay Saint Louis is $118,728. Homeowners in the 25th percentile can expect a tax bill around $1,036, while those in the 75th percentile might see a bill closer to $2,624. At the 90th percentile, the tax bill can reach up to $4,037. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Understanding how these factors come together helps homeowners budget accordingly and recognize the value of the services their taxes support.
Average Bay Saint Louis Tax Bill
$1,609
Average Hancock County Tax Bill
$1,554
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Bay Saint Louis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39520 | $677 | $1,036 | $1,609 | $2,624 | $4,037 |
Source: Ownwell