Wiggins, Mississippi Property Taxes
The median property tax rate in Wiggins, MS is 1.03%, slightly above the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $57,160 in Wiggins, the typical annual property tax bill amounts to $532, which is significantly below the national median of $2,690. Property taxes in Wiggins are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Wiggins' property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Wiggins or another part of Forrest County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wiggins, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$589
Ownwell’s Wiggins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wiggins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wiggins 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 Wiggins, Mississippi
Property taxes in Wiggins, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wiggins is 0.81%, which is lower than both the Mississippi state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Wiggins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wiggins 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 Wiggins' effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39577 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Wiggins provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wiggins Tax Rate
1.03%
Average Forrest County Tax Rate
1.50%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wiggins, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39577 | 0.41% | 0.81% | 1.03% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Wiggins, Mississippi
In Wiggins, 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 local county authorities 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 Wiggins, 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 Wiggins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Forrest County, the highest and lowest median tax bills are both $532.00, found in zip code 39577.
Average Wiggins Assessed Value
$57,160
Average Forrest County Assessed Value
$72,000
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wiggins, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39577 | $15,670 | $27,190 | $57,160 | $96,985 | $150,460 |
Source: Ownwell
Property Tax Bills Across Wiggins, Mississippi
In Wiggins, MS, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For example, with a median home price of $57,160, homeowners might see varying tax bills depending on the precise assessed value and applicable exemptions. Factors such as property location, improvements, and local government budgets also influence the final tax amount. In Wiggins, the 25th percentile tax bill is around $307, while the 75th percentile reaches approximately $1,140. The 90th percentile can go up to $1,713, indicating a wide range in tax burdens for homeowners. Compared to the national median property tax rate of 0.99%, the tax rates in Wiggins can significantly impact homeowners, especially those with higher-value properties. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Wiggins Tax Bill
$532
Average Forrest County Tax Bill
$1,069
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Wiggins, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39577 | $162 | $307 | $532 | $1,140 | $1,713 |
Source: Ownwell