Byhalia, Mississippi Property Taxes
The median property tax rate in Byhalia, MS is 1.11%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Byhalia at $122,588, the typical annual property tax bill reaches $1,356, well below the national median of $2,690. Property taxes in Byhalia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Byhalia'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 Byhalia 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
Byhalia, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,361
Ownwell’s Byhalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Byhalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Byhalia 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 Byhalia, Mississippi
Property taxes in Byhalia, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Byhalia is 0.81%, which is lower than both the Mississippi state median of 0.86% and the U.S. national median of 0.99%. Local government entities within Byhalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Byhalia 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 Byhalia's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38611 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 Byhalia 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 Byhalia Tax Rate
1.11%
Average Tate County Tax Rate
1.33%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Byhalia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38611 | 1.11% | 1.11% | 1.11% | 1.11% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Byhalia, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Byhalia, 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 Tate 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 Byhalia, 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 Byhalia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 38611, both standing at $1,356.
Average Byhalia Assessed Value
$122,588
Average Tate County Assessed Value
$82,683
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Byhalia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38611 | $122,588 | $122,588 | $122,588 | $122,588 | $122,588 |
Source: Ownwell
Property Tax Bills Across Byhalia, Mississippi
Property tax bills in Byhalia, located in Tate County, MS, are calculated based on the assessed value of a property. The county assessors determine this value, which is a percentage of the property's market value. For instance, with a median home price of $122,588, the assessed value is a crucial factor in determining the final tax bill. In Byhalia, property tax bills can vary, but the median tax bill stands at $1,356, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and improvements made to the property. Homeowners in Byhalia should be aware that these taxes fund essential local services such as schools, infrastructure, and emergency services. Understanding how property taxes are calculated can help homeowners better anticipate their financial obligations and plan accordingly. This knowledge is vital for managing expenses and ensuring that property taxes are accurately assessed and paid on time.
Average Byhalia Tax Bill
$1,356
Average Tate County Tax Bill
$994
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Byhalia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38611 | $1,356 | $1,356 | $1,356 | $1,356 | $1,356 |
Source: Ownwell