Shaw, Mississippi Property Taxes
The median property tax rate in Shaw, Mississippi is 1.07%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Shaw at $74,815, the typical annual property tax bill amounts to $785, which is below the national median of $2,690. Property taxes in Shaw are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Shaw'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 Shaw 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
Shaw, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$801
Ownwell’s SHAW Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SHAW with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SHAW 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 Shaw, Mississippi
Property taxes in Shaw, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shaw is 1.07%, higher than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Shaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shaw 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 Shaw's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38773 zip code has the highest median property tax rate of 1.07%, while the 38773 zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Shaw provides valuable insights into the varying tax landscape across Sunflower County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shaw Tax Rate
1.07%
Average Sunflower County Tax Rate
1.85%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shaw, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38773 | 0.35% | 0.82% | 1.07% | 1.85% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Shaw, Mississippi
In Shaw, 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 Sunflower 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 Shaw, 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 Shaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Shaw are both $785.00, found in the zip code 38773, providing a clear picture of the property tax landscape.
Average Shaw Assessed Value
$74,815
Average Sunflower County Assessed Value
$50,210
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shaw, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38773 | $23,928 | $41,814 | $74,815 | $116,718 | $162,262 |
Source: Ownwell
Property Tax Bills Across Shaw, Mississippi
In Shaw, located in Sunflower County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Shaw is $74,815. Property taxes are then determined by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property location, property type, and any applicable exemptions or deductions. Homeowners in Shaw can expect a range of property tax bills. At the 25th percentile, the tax bill is around $415, while at the 75th percentile, it can go up to $1,453. Those at the 90th percentile might see tax bills as high as $2,282. The highest median tax bill in the area is $785, which is significantly lower than the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as property taxes directly impact annual housing costs, influencing both short-term budgets and long-term financial planning.
Average Shaw Tax Bill
$785
Average Sunflower County Tax Bill
$885
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Shaw, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38773 | $166 | $415 | $785 | $1,453 | $2,282 |
Source: Ownwell