Walthall, Mississippi Property Taxes
The median property tax rate in Walthall, MS is 1.07%, 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 Walthall, the typical annual property tax bill reaches $699, which is substantially below the national median of $2,690. Property taxes in Walthall 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 Walthall'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 Walthall 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
Walthall, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$746
Ownwell’s Walthall Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Walthall with just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Walthall to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Walthall, Mississippi
Property taxes in Walthall, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walthall is 0.71%, significantly lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Walthall set these rates annually, and they can vary across different neighborhoods. Each year, Walthall 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 Walthall's effective property tax rate to other counties in Mississippi and the national median. For comparison, the highest median property tax rate in the county is 0.71% in the zip code 39653, while the lowest median tax rate is also 0.71% in the same zip code. Understanding how these areas compare with Walthall provides valuable insights into the varying tax landscape across Walthall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walthall Tax Rate
1.07%
Average Webster County Tax Rate
0.98%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walthall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39771 | 0.32% | 0.76% | 1.07% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Walthall, Mississippi
In Walthall, 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 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 Walthall, 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 Walthall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Walthall is $69,689, with tax bills ranging from $406 at the 25th percentile to $1,593 at the 90th percentile. The zip code 39771 has both the highest and lowest median tax bill at $699.
Average Walthall Assessed Value
$69,689
Average Webster County Assessed Value
$69,631
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walthall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39771 | $27,789 | $40,954 | $69,689 | $101,564 | $135,082 |
Source: Ownwell
Property Tax Bills Across Walthall, Mississippi
In Walthall, MS, the calculation of property tax bills hinges on the assessed value of a homeowner's property. The assessed value is typically a percentage of the property's market value, which in Walthall, aligns with Mississippi's regulations. Homeowners in Walthall can expect their property tax bills to vary widely based on their property's assessed value and the local tax rate. For instance, the tax bill for properties in the 25th percentile is around $406, while those in the 75th percentile can see tax bills as high as $1,277. Properties in the 90th percentile face even higher tax bills, reaching up to $1,593. These figures highlight the range of property tax burdens that homeowners might experience. Compared to the national median property tax rate of 0.99%, Walthall's property tax rates can be seen as relatively manageable for most homeowners. However, the variation in tax bills underscores the importance of understanding how your property is assessed and the local tax policies that influence your annual tax obligations.
Average Walthall Tax Bill
$699
Average Webster County Tax Bill
$751
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Walthall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39771 | $187 | $406 | $699 | $1,277 | $1,593 |
Source: Ownwell