Weir, Mississippi Property Taxes
The median property tax rate in Weir, MS is 0.69%, considerably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Weir, the typical annual property tax bill reaches $315, significantly below the national median of $2,690. Property taxes in Weir 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 Weir'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 Weir or another part of Choctaw County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weir, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$338
$313
Ownwell’s Weir Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weir 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 Weir, Mississippi
Property taxes in Weir, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weir is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Weir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weir 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 Weir's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39772 zip code has the highest median property tax rate of 0.69%, while the 39772 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Weir 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 Weir Tax Rate
0.69%
Average Choctaw County Tax Rate
0.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weir, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39772 | 0.35% | 0.41% | 0.69% | 1.21% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Weir, Mississippi
In Weir, 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 Weir, 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. The median home price in Weir is $48,925, with tax bills ranging from $185 at the 25th percentile to $956 at the 90th percentile. Notably, the highest and lowest median tax bills are both $315 in the 39772 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Weir Assessed Value
$48,925
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 Weir, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39772 | $11,129 | $25,468 | $48,925 | $69,929 | $111,934 |
Source: Ownwell
Property Tax Bills Across Weir, Mississippi
In Weir, located in Choctaw County, MS, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Weir is $48,925. Property taxes in this area are influenced by multiple factors, including the property's assessed value and the local tax rate. The tax bill can vary significantly, with the 25th percentile of tax bills being around $185 and the 75th percentile reaching up to $624. For those in the 90th percentile, the tax bill can be as high as $956. The property tax rate in Weir is notably lower than the national median property tax rate of 0.99%, making it an attractive location for homeowners looking for lower property tax liabilities. Homeowners in Weir benefit from these lower rates, but it’s essential to stay informed about how changes in property values and local tax policies can affect their tax bills.
Average Weir Tax Bill
$315
Average Choctaw County Tax Bill
$414
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Weir, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39772 | $82 | $185 | $315 | $624 | $956 |
Source: Ownwell