Buckatunna, Mississippi Property Taxes
The median property tax rate in Buckatunna, MS is 1.56%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Buckatunna, the typical annual property tax bill reaches $288, which is significantly lower than the national median of $2,690. Property taxes in Buckatunna 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 Buckatunna'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 Buckatunna or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buckatunna, 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 Buckatunna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buckatunna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buckatunna 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 Buckatunna, Mississippi
Property taxes in Buckatunna, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buckatunna is 1.56%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Buckatunna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buckatunna 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 Buckatunna's effective property tax rate to other areas in Mississippi and the national median. For comparison, the 39322 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Buckatunna provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buckatunna Tax Rate
1.56%
Average Wayne County Tax Rate
1.56%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buckatunna, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39322 | 0.64% | 0.92% | 1.56% | 1.59% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Buckatunna, Mississippi
In Buckatunna, 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 Wayne 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 Buckatunna, 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 Buckatunna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $288 in the 39322 zip code, while the lowest median tax bill is also $288 in the same zip code.
Average Buckatunna Assessed Value
$26,510
Average Wayne County Assessed Value
$30,525
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buckatunna, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39322 | $3,484 | $7,890 | $26,510 | $74,180 | $141,286 |
Source: Ownwell
Property Tax Bills Across Buckatunna, Mississippi
In Buckatunna, located in Wayne County, MS, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Buckatunna, the assessed value typically reflects a portion of the median home price, which is $26,510. Tax bills can vary significantly, with the 25th percentile at $115 and the 75th percentile reaching $693. At the higher end, the 90th percentile tax bill is $1,376. The highest median tax bill in the area is $288, which is consistent across the zip code 39322. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as property taxes represent a significant part of homeownership costs. Compared to the national median property tax rate of 0.99%, Buckatunna's tax rates can be relatively modest, providing some financial relief to its residents.
Average Buckatunna Tax Bill
$288
Average Wayne County Tax Bill
$321
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Buckatunna, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39322 | $52 | $115 | $288 | $693 | $1,376 |
Source: Ownwell