Liberty, Mississippi Property Taxes
The median property tax rate in Liberty, MS is 1.28%, slightly higher than the national median of 0.99% but just below the Mississippi state median of 1.31%. With the median home value in Liberty at $18,615, the typical annual property tax bill is $161, which is significantly lower than the national median of $2,690. Property taxes in Liberty are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Liberty'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 Liberty 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
Liberty, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$238
$221
Ownwell’s Liberty Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Liberty with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Liberty to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Liberty, Mississippi
Property taxes in Liberty, Mississippi, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Liberty is 1.28%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Liberty 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 Liberty's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39645 zip code has the highest median property tax rate of 1.28%, while the 39666 zip code has the lowest median tax rate of 0.53%. Understanding how these cities compare with Liberty provides valuable insights into the varying tax landscape across Amite County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Liberty Tax Rate
1.28%
Average Amite County Tax Rate
1.28%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Liberty, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39645 | 0.44% | 1.01% | 1.28% | 1.31% | 1.32% |
| 39666 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Liberty, Mississippi
In Liberty, 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 Amite 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 Liberty, 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 Liberty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Liberty is $455 in zip code 39666, while the lowest median tax bill is $161 in zip code 39645.
Average Liberty Assessed Value
$18,615
Average Amite County Assessed Value
$18,096
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Liberty, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39645 | $1,499 | $4,899 | $18,596 | $57,755 | $105,486 |
| 39666 | $86,153 | $86,153 | $86,153 | $86,153 | $86,153 |
Source: Ownwell
Property Tax Bills Across Liberty, Mississippi
In Liberty, located in Amite County, MS, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The local tax rate is then applied to this assessed value to compute the annual tax bill. For example, the median home price in Liberty is $18,615. Homeowners in the 25th percentile receive tax bills around $51, while those in the 75th percentile see bills close to $445. At the 90th percentile, tax bills can reach up to $849. Several factors influence these calculations, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Liberty's property tax rates are relatively modest, making it an appealing location for homeowners. However, the variability in tax bills, as seen in the highest median tax bill of $455 in zip code 39666 and the lowest of $161 in zip code 39645, highlights the importance of understanding local property tax dynamics.
Average Liberty Tax Bill
$161
Average Amite County Tax Bill
$159
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Liberty, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39645 | $13 | $51 | $161 | $445 | $849 |
| 39666 | $455 | $455 | $455 | $455 | $455 |
Source: Ownwell