Mathiston, Mississippi Property Taxes
The median property tax rate in Mathiston, MS is 0.56%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Mathiston at $61,463, the typical annual property tax bill is $374, far below the national median of $2,690. Property taxes in Mathiston 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 Mathiston'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 Mathiston 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
Mathiston, 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 Mathiston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mathiston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mathiston 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 Mathiston, Mississippi
Property taxes in Mathiston, Mississippi, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Mathiston is 0.56%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Mathiston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mathiston 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 Mathiston's effective property tax rate to other counties in Mississippi and the national median. For comparison, the highest median property tax rate in Choctaw County is 0.56%, while the lowest median tax rate is also 0.56%. Understanding how these cities compare with Mathiston provides valuable insights into the varying tax landscape across Choctaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mathiston Tax Rate
0.56%
Average Choctaw County Tax Rate
0.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mathiston, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39752 | 0.31% | 0.41% | 0.56% | 1.21% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Mathiston, Mississippi
In Mathiston, 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 Choctaw 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 Mathiston, 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 Mathiston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Mathiston are both $374, with the zip code 39752.
Average Mathiston Assessed Value
$61,463
Average Choctaw County Assessed Value
$55,604
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mathiston, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39752 | $15,803 | $37,668 | $61,463 | $86,738 | $131,320 |
Source: Ownwell
Property Tax Bills Across Mathiston, Mississippi
In Mathiston, located in Choctaw County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. For homeowners in Mathiston, the median home price is $61,463. Property tax bills can vary significantly, with the 25th percentile at $198, the 75th percentile at $660, and the 90th percentile reaching $964. These tax bills are influenced by several factors, including the assessed value of the home, any applicable exemptions, and the local tax rate. Homeowners in Mathiston experience property tax rates that are relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means that local services funded by property taxes may have fewer resources. Understanding how these factors interplay can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Mathiston Tax Bill
$374
Average Choctaw County Tax Bill
$414
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mathiston, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39752 | $93 | $198 | $374 | $660 | $964 |
Source: Ownwell