Natchez, Mississippi Property Taxes
The median property tax rate in Natchez, MS is 2.10%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Natchez at $43,985, the typical annual property tax bill reaches $658, which is lower than the national median of $2,690. Property taxes in Natchez 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 Natchez'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 Natchez 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
Natchez, 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 Natchez Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Natchez with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Natchez 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 Natchez, Mississippi
Property taxes in Natchez, Mississippi, are crucial for funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Natchez is 2.10%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Natchez set these rates annually, and they can vary across different neighborhoods. Each year, Natchez 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 Natchez's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 39120 has the highest median property tax rate of 2.10%, which is also the lowest median tax rate in the area, highlighting a uniformity in tax rates within the region. Understanding how these areas compare with Natchez provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Natchez Tax Rate
2.10%
Average Jefferson County Tax Rate
2.11%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Natchez, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39120 | 0.61% | 1.19% | 2.10% | 2.15% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Natchez, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Natchez, 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 Jefferson 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 Natchez, 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. The median home price in Natchez is $43,985, with tax bills ranging from $259 at the 25th percentile to $2,143 at the 90th percentile. The zip code 39120 has the highest median tax bill at $658. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Natchez Assessed Value
$43,985
Average Jefferson County Assessed Value
$39,930
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Natchez, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39120 | $8,553 | $20,100 | $43,985 | $75,788 | $135,481 |
Source: Ownwell
Property Tax Bills Across Natchez, Mississippi
In Natchez, located in Jefferson County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, the median home price in Natchez is $43,985. The local tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as the property's location, size, and improvements can influence its assessed value, thereby affecting the tax bill. Homeowners in Natchez experience a range of property tax bills. At the 25th percentile, the tax bill is $259, while at the 75th percentile, it rises to $1,255. For those in the 90th percentile, the tax bill can be as high as $2,143. The median tax bill in the area is $658, which is significantly lower than the national median property tax rate of 0.99%. This relatively low property tax burden can make homeownership in Natchez more affordable compared to other regions.
Average Natchez Tax Bill
$658
Average Jefferson County Tax Bill
$560
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Natchez, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39120 | $125 | $259 | $658 | $1,255 | $2,143 |
Source: Ownwell