Woodland, Mississippi Property Taxes
The median property tax rate in Woodland, MS is 1.07%, which is higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Woodland, the typical annual property tax bill reaches $463, significantly below the national median of $2,690. Property taxes in Woodland 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 Woodland'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 Woodland 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
Woodland, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$480
Ownwell’s Woodland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodland 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 Woodland, Mississippi
Property taxes in Woodland, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodland is 1.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Woodland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodland 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 Woodland's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39776 zip code has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with Woodland provides valuable insights into the varying tax landscape across Chickasaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodland Tax Rate
1.07%
Average Chickasaw County Tax Rate
1.05%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39776 | 0.57% | 0.88% | 1.07% | 1.94% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Woodland, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Woodland, Mississippi. 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 Chickasaw County Assessor 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 Woodland, 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 Woodland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Woodland are both $463, found in the 39776 zip code.
Average Woodland Assessed Value
$44,875
Average Chickasaw County Assessed Value
$44,230
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39776 | $7,496 | $14,955 | $44,875 | $79,308 | $129,957 |
Source: Ownwell
Property Tax Bills Across Woodland, Mississippi
In Woodland, located in Chickasaw County, MS, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Woodland is $44,875. Local tax assessors determine the assessed value, and this figure is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property size, location, and condition can influence the assessed value. For homeowners in Woodland, the property tax bill varies significantly. At the 25th percentile, the tax bill is $227, while at the 75th percentile, it climbs to $857. For those at the 90th percentile, it can reach as high as $1,460. These variations indicate how different factors impact the tax amounts homeowners are required to pay. Compared to the national median property tax rate of 0.99%, Woodland homeowners experience a range of tax bills, influenced by the assessed value and local tax policies. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations.
Average Woodland Tax Bill
$463
Average Chickasaw County Tax Bill
$423
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39776 | $110 | $227 | $463 | $857 | $1,460 |
Source: Ownwell