Victoria, Mississippi Property Taxes
The median property tax rate in Victoria, MS is 0.93%, which is notably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Victoria, the typical annual property tax bill reaches $1,293, falling below the national median of $2,690. Property taxes in Victoria are calculated based on the tax assessed value, which often comes in under the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Victoria'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 Victoria 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
Victoria, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,206
Ownwell’s Victoria Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Victoria with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Victoria to provide an accurate property tax bill estimate. This valuable resource offers a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county for tax purposes, includes any applicable exemptions, ensuring you get a precise estimate.
Property Tax Rates Across Victoria, Mississippi
Property taxes in Victoria, Mississippi, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Victoria is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Victoria set these rates annually, and they can vary significantly across different neighborhoods. Each year, Victoria 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 Victoria's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38679 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Victoria provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Victoria Tax Rate
0.93%
Average Marshall County Tax Rate
1.72%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Victoria, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38679 | 0.92% | 0.92% | 0.93% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Victoria, Mississippi
In Victoria, Mississippi, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 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 Victoria, 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 Victoria is $129,680, with the highest and lowest median tax bills both reported at $1,293 in the 38679 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Victoria Assessed Value
$129,680
Average Marshall County Assessed Value
$56,450
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Victoria, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38679 | $84,032 | $101,150 | $129,680 | $139,190 | $144,896 |
Source: Ownwell
Property Tax Bills Across Victoria, Mississippi
In Victoria, located in Marshall County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by local assessors. Various factors influence this assessment, including the property's location, size, and condition. For homeowners in Victoria, the median home price stands at $129,680. The typical property tax bill varies, with the 25th percentile at $1,238 and the 75th percentile at $1,347. At the 90th percentile, homeowners can expect to pay around $1,380. These figures illustrate the range of property tax obligations within the community. Compared to the national median property tax rate of 0.99%, Victoria's property tax rates can significantly impact homeowners' annual budgets. Accurate assessments ensure that property taxes are fairly distributed, supporting essential public services like schools and infrastructure. Understanding these factors helps homeowners anticipate their tax responsibilities and plan their finances accordingly.
Average Victoria Tax Bill
$1,293
Average Marshall County Tax Bill
$600
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Victoria, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38679 | $1,206 | $1,238 | $1,293 | $1,347 | $1,380 |
Source: Ownwell