Philadelphia, Mississippi Property Taxes
The median property tax rate in Philadelphia, MS is 0.72%, considerably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Philadelphia, the typical annual property tax bill reaches $508, significantly less than the national median of $2,690. Property taxes in Philadelphia 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 Philadelphia'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 Philadelphia or another part of Winston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Philadelphia, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$467
Ownwell’s Philadelphia Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Philadelphia with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Philadelphia to provide an estimate of your property tax bill. This user-friendly tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by Winston County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Philadelphia, Mississippi
Property taxes in Philadelphia, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Philadelphia is 0.72%, lower than the U.S. national median of 0.99%. Local government entities within Philadelphia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Philadelphia 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 Philadelphia's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39350 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Philadelphia provides valuable insights into the varying tax landscape across Winston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Philadelphia Tax Rate
0.72%
Average Winston County Tax Rate
0.66%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Philadelphia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39350 | 0.22% | 0.64% | 0.72% | 1.04% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Philadelphia, Mississippi
In Philadelphia, 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 Winston 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 Philadelphia, 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. The median home price here is $64,928, with tax bills ranging from $204 at the 25th percentile to $2,337 at the 90th percentile. Zip code 39350 has the highest median tax bill of $508. 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 Philadelphia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Philadelphia Assessed Value
$64,928
Average Winston County Assessed Value
$66,478
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Philadelphia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39350 | $15,061 | $38,838 | $64,928 | $117,095 | $188,197 |
Source: Ownwell
Property Tax Bills Across Philadelphia, Mississippi
Property tax bills in Philadelphia, located in Winston County, MS, are calculated based on the assessed value of a property. The assessed value is a percentage of the market value, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, thereby affecting the tax bill. For homeowners in Philadelphia, the median home price is $64,928. The tax bills vary significantly, with the 25th percentile at $204 and the 75th percentile reaching $1,001. The 90th percentile tax bill can go up to $2,337, indicating a wide range of property values and tax burdens. The highest and lowest median tax bills in the area are both $508, which is relatively low compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their property tax liabilities and plan their finances accordingly.
Average Philadelphia Tax Bill
$508
Average Winston County Tax Bill
$387
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Philadelphia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39350 | $101 | $204 | $508 | $1,001 | $2,337 |
Source: Ownwell