Port Gibson, Mississippi Property Taxes
The median property tax rate in Port Gibson, MS is 1.71%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $35,910 in Port Gibson, the typical annual property tax bill reaches $426, which is significantly lower than the national median of $2,690. Property taxes in Port Gibson 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 Port Gibson'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 Port Gibson or another part of Claiborne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Port Gibson, 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 PORT GIBSON Property Tax Bill Calculator is designed to help homeowners, real estate investors, and potential buyers estimate their annual property taxes in PORT GIBSON with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in PORT GIBSON to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed insights, neighborhood-level trends are available further down the page. Your property’s assessed value, determined by Claiborne County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Port Gibson, Mississippi
Property taxes in Port Gibson, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Gibson is 1.71%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Port Gibson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Gibson 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 Port Gibson's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39150 has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these cities compare with Port Gibson provides valuable insights into the varying tax landscape across Claiborne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Port Gibson Tax Rate
1.71%
Average Claiborne County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Gibson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39150 | 0.72% | 0.89% | 1.71% | 1.72% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Port Gibson, Mississippi
In Port Gibson, 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 Claiborne 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 Port Gibson, 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 Port Gibson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $426 in the 39150 zip code, showcasing a unique uniformity within the area.
Average Port Gibson Assessed Value
$35,910
Average Claiborne County Assessed Value
$33,925
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Port Gibson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39150 | $5,406 | $14,678 | $35,910 | $68,140 | $114,472 |
Source: Ownwell
Property Tax Bills Across Port Gibson, Mississippi
In Port Gibson, located in Claiborne County, MS, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The median home price in the area is $35,910. Tax rates are applied to this assessed value to determine the annual property tax bill. For instance, homeowners in the 25th percentile pay around $167, while those in the 75th percentile pay approximately $859. At the higher end, the 90th percentile sees tax bills reaching up to $1,537. The property tax rate in Port Gibson is influenced by various factors including local government budgets, school funding needs, and public services. This means that changes in these areas can directly impact the tax rates and, consequently, homeowners' annual tax bills. Compared to the national median property tax rate of 0.99%, Port Gibson's rates can be considered relatively modest, making it an appealing location for those looking to minimize their property tax expenses.
Average Port Gibson Tax Bill
$426
Average Claiborne County Tax Bill
$375
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Gibson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39150 | $69 | $167 | $426 | $859 | $1,537 |
Source: Ownwell