Osyka, Mississippi Property Taxes
The median property tax rate in Osyka, MS is 1.28%, slightly below the Mississippi state median of 1.31% but still higher than the national median of 0.99%. With a median home value of $21,737 in Osyka, the typical annual property tax bill amounts to $202, which is significantly lower than the national median of $2,690. Property taxes in Osyka are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Osyka'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 Osyka 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
Osyka, 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 Osyska Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osyska with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osyska 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 Osyka, Mississippi
Property taxes in Osyka, Mississippi, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Osyka is 0.72%, which is lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Osyka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osyka 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 Osyka's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39657 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Osyka 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 Osyka 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 Osyka, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39657 | 0.44% | 0.78% | 1.28% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Osyka, Mississippi
In Osyka, 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 Osyka, 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. For example, the zip code 39657 has the highest median tax bill of $202. Being aware of these valuation processes in Osyka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Osyka Assessed Value
$21,737
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 Osyka, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39657 | $1,914 | $5,470 | $21,737 | $64,724 | $122,169 |
Source: Ownwell
Property Tax Bills Across Osyka, Mississippi
In Osayka, located in Amite County, MS, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Osayka experience a range of tax bills, with the 25th percentile at $60 and the 75th percentile at $526. For those in the 90th percentile, tax bills can reach up to $1,036. These tax amounts are significantly lower than the national median property tax rate of 0.99%, which makes Osayka a relatively affordable place for homeowners. The highest and lowest median tax bills in the area are both $202, indicating a consistent tax rate across different properties. This consistency provides a predictable financial environment for homeowners, allowing them to budget more effectively. Factors such as property improvements and changes in market value can influence the assessed value, thus affecting the overall tax bill.
Average Osyka Tax Bill
$202
Average Amite County Tax Bill
$159
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Osyka, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39657 | $17 | $60 | $202 | $526 | $1,036 |
Source: Ownwell