Vaughan, Mississippi Property Taxes
The median property tax rate in Vaughan, Mississippi is 1.74%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Vaughan at $50,150, the typical annual property tax bill reaches $647, exceeding the national median of $2,690. Property taxes in Vaughan 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 Vaughan'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 Vaughan or another part of Yazoo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vaughan, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$873
Ownwell’s Vaughan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vaughan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vaughan 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 Vaughan, Mississippi
Property taxes in Vaughan, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vaughan is 1.74%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Vaughan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vaughan 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 Vaughan's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39179 zip code has the highest median property tax rate of 1.74%, while the 39179 zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with Vaughan provides valuable insights into the varying tax landscape across Yazoo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vaughan Tax Rate
1.74%
Average Yazoo County Tax Rate
1.74%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vaughan, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39179 | 0.59% | 0.79% | 1.74% | 1.75% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Vaughan, Mississippi
In Vaughan, 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 Yazoo 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 Vaughan, 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 Vaughan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Vaughan are both $647.00, found in the 39179 zip code.
Average Vaughan Assessed Value
$50,150
Average Yazoo County Assessed Value
$47,455
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vaughan, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39179 | $14,024 | $25,780 | $50,150 | $96,460 | $157,100 |
Source: Ownwell
Property Tax Bills Across Vaughan, Mississippi
In Vaughan, Yazoo County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value typically represents a percentage of the market value. Homeowners in Vaughan can expect varying tax bills depending on their property's assessed value. For instance, those in the 25th percentile pay around $311 annually, while those in the 75th percentile see bills closer to $1,206. The top 10% of homeowners face even higher taxes, with bills reaching up to $2,363. The median home price in Vaughan is $50,150, and the local tax rate is a significant factor in determining the final bill. Compared to the national median property tax rate of 0.99%, Vaughan's rates reflect the unique economic and housing conditions of the area. These property taxes are crucial for funding local services such as schools, infrastructure, and public safety, directly impacting the community and homeowners' quality of life.
Average Vaughan Tax Bill
$647
Average Yazoo County Tax Bill
$698
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Vaughan, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39179 | $163 | $311 | $647 | $1,206 | $2,363 |
Source: Ownwell