Tinsley, Mississippi Property Taxes
The median property tax rate in Tinsley, Mississippi is 0.85%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Tinsley, the typical annual property tax bill reaches $623, significantly less than the national median of $2,690. Property taxes in Tinsley 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 Tinsley'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 Tinsley 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
Tinsley, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$548
Ownwell’s Tinsley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tinsley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tinsley 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 Tinsley, Mississippi
Property taxes in Tinsley, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tinsley is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Tinsley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tinsley 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 Tinsley's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39173 zip code has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Tinsley provides valuable insights into the varying tax landscape across Yazoo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tinsley Tax Rate
0.85%
Average Yazoo County Tax Rate
1.74%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tinsley, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39173 | 0.53% | 0.77% | 0.85% | 0.92% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Tinsley, Mississippi
In Tinsley, 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 Yazoo 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 Tinsley, 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 Tinsley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $623, found in the 39173 zip code.
Average Tinsley Assessed Value
$64,520
Average Yazoo County Assessed Value
$47,455
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tinsley, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39173 | $41,986 | $56,470 | $64,520 | $81,530 | $92,856 |
Source: Ownwell
Property Tax Bills Across Tinsley, Mississippi
In Tinsley, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in Tinsley, located in Yazoo County, Mississippi, see their tax bills determined by multiplying the assessed value by the local tax rate. The median home price in Tinsley is $64,520, and the property tax rate in the area is relatively lower compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions. For instance, the tax bill at the 25th percentile is around $432, while at the 75th percentile, it rises to approximately $692. The 90th percentile tax bill can reach up to $767. This variation means that homeowners with higher-valued properties or fewer exemptions will face higher tax bills. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Tinsley Tax Bill
$623
Average Yazoo County Tax Bill
$698
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Tinsley, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39173 | $412 | $432 | $623 | $692 | $767 |
Source: Ownwell