Van Vleet, Mississippi Property Taxes
The median property tax rate in Van Vleet, MS is 0.96%, slightly below the national median of 0.99% and significantly lower than the Mississippi state median of 1.31%. With a median home value of $39,870, the typical annual property tax bill in Van Vleet is $491, which is well below the national median of $2,690. Property taxes in Van Vleet are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Van Vleet'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 Van Vleet or another part of Chickasaw County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Van Vleet, 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 Van Vleet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Van Vleet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Van Vleet 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 Van Vleet, Mississippi
Property taxes in Van Vleet, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Van Vleet is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Van Vleet set these rates annually, and they can vary across different neighborhoods. Each year, Van Vleet 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 Van Vleet's effective property tax rate to other areas and the national median. For comparison, the zip code 38877 has the same median property tax rate of 0.96%, reflecting a uniform rate within the region. Understanding how these areas compare with Van Vleet provides valuable insights into the varying tax landscape across Chickasaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Van Vleet Tax Rate
0.96%
Average Chickasaw County Tax Rate
1.05%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Van Vleet, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38877 | 0.45% | 0.89% | 0.96% | 1.93% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Van Vleet, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Van Vleet, Mississippi. 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 Chickasaw 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 Van Vleet, 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 in Van Vleet is $39,870, with tax bills ranging from $262 at the 25th percentile to $852 at the 90th percentile. The highest and lowest median tax bills are both $491, found in the 38877 zip code. 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 Van Vleet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Van Vleet Assessed Value
$39,870
Average Chickasaw County Assessed Value
$44,230
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Van Vleet, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38877 | $11,340 | $18,800 | $39,870 | $56,020 | $84,388 |
Source: Ownwell
Property Tax Bills Across Van Vleet, Mississippi
In Van Vleet, Chickasaw County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Van Vleet pay property taxes that contribute to local services such as schools, infrastructure, and public safety. For a median home price of $39,870, the property tax bill can vary significantly. The 25th percentile tax bill is around $262, while the 75th percentile tax bill reaches up to $670. At the 90th percentile, homeowners might see tax bills as high as $852. These figures illustrate the range of property tax obligations within the city, which can impact household budgets differently depending on the property’s assessed value. Compared to the national median property tax rate of 0.99%, property taxes in Van Vleet may seem relatively moderate. However, understanding the specific assessed value and tax rate applicable to their property is crucial for homeowners to manage their financial planning effectively.
Average Van Vleet Tax Bill
$491
Average Chickasaw County Tax Bill
$423
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Van Vleet, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38877 | $140 | $262 | $491 | $670 | $852 |
Source: Ownwell