Stonewall, Mississippi Property Taxes
The median property tax rate in Stonewall, MS is 1.57%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Stonewall, the typical annual property tax bill reaches $576, which is well below the national median of $2,690. Property taxes in Stonewall 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 Stonewall'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 Stonewall 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
Stonewall, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Stonewall Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stonewall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stonewall to project your property tax bill. This insightful tool offers a clear understanding of potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Stonewall, Mississippi
Property taxes in Stonewall, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stonewall is 0.69%, significantly lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Stonewall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stonewall 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. Understanding how Stonewall compares with other areas provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stonewall Tax Rate
1.57%
Average Clarke County Tax Rate
1.13%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stonewall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39363 | 0.71% | 1.16% | 1.57% | 2.36% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Stonewall, Mississippi
In Stonewall, 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 Clarke 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 Stonewall, 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 Stonewall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Clarke County, the median home price is $41,140, with tax bills ranging from $357 at the 25th percentile to $1,119 at the 90th percentile. The zip code with the highest median tax bill is 39363, with a median of $576.
Average Stonewall Assessed Value
$41,140
Average Clarke County Assessed Value
$54,740
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stonewall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39363 | $14,578 | $24,080 | $41,140 | $59,260 | $88,452 |
Source: Ownwell
Property Tax Bills Across Stonewall, Mississippi
In Stonewall, Clarke County, MS, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is derived from the median home price in the area. For instance, with a median home price of $41,140, homeowners can expect different tax bills based on their property's assessed value and the applicable tax rate. Factors influencing the tax bill include the property's location, size, and any applicable exemptions. The tax bill for the 25th percentile is $357, while the 75th percentile sees a tax bill of $870. For those in the 90th percentile, the tax bill can be as high as $1,119. The median property tax rate in Stonewall is significantly lower than the national median of 0.99%, making it relatively affordable for homeowners. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Stonewall Tax Bill
$576
Average Clarke County Tax Bill
$608
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Stonewall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39363 | $199 | $357 | $576 | $870 | $1,119 |
Source: Ownwell