Artesia, Mississippi Property Taxes
The median property tax rate in Artesia, MS is 1.93%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Artesia, the typical annual property tax bill reaches $344, which is significantly lower than the national median of $2,690. Property taxes in Artesia 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 Artesia'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 Artesia or another part of Lowndes County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Artesia, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$501
Ownwell’s Artesia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Artesia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Artesia 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 Artesia, Mississippi
Property taxes in Artesia, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Artesia is 1.93%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Artesia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Artesia 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 Artesia's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39736 zip code has the highest median property tax rate of 1.93%, while the same zip code also has the lowest median tax rate of 1.93%. Understanding how these cities compare with Artesia provides valuable insights into the varying tax landscape across Lowndes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Artesia Tax Rate
1.93%
Average Lowndes County Tax Rate
1.23%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Artesia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39736 | 0.88% | 0.92% | 1.93% | 1.93% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Artesia, Mississippi
In Artesia, 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 Lowndes 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. 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 Artesia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 39736 at $344, while the lowest is also 39736 at $344.
Average Artesia Assessed Value
$25,970
Average Lowndes County Assessed Value
$63,980
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Artesia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39736 | $3,190 | $7,718 | $25,970 | $46,560 | $68,709 |
Source: Ownwell
Property Tax Bills Across Artesia, Mississippi
Property tax bills in Artesia, located in Lowndes County, MS, are determined by the assessed value of a property, which is a percentage of its market value. The median home price in Artesia is $25,970. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, homeowners in the 25th percentile pay around $124, while those in the 75th percentile see bills closer to $572. At the 90th percentile, tax bills can reach up to $814. Factors influencing these calculations include property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the rates in Artesia are relatively low, making homeownership more affordable. This system ensures that property taxes are proportionate to the value of the property, affecting homeowners by requiring them to budget for these annual expenses. The highest and lowest median tax bill in the area is $344, found in the zip code 39736.
Average Artesia Tax Bill
$344
Average Lowndes County Tax Bill
$692
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Artesia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39736 | $52 | $124 | $344 | $572 | $814 |
Source: Ownwell