West Point, Mississippi Property Taxes
The median property tax rate in West Point, MS is 2.24%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in West Point at $49,702, the typical annual property tax bill reaches $990, which is below the national median of $2,690. Property taxes in West Point are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding West Point'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 West Point or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Point, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$1,113
Ownwell’s West Point Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in West Point. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in West Point to provide an estimate of your property tax bill. This easy-to-use tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, determined by Clay County, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across West Point, Mississippi
Property taxes in West Point, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Point is 2.24%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within West Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Point 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 West Point's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39773 zip code has the highest median property tax rate of 2.24%, while the same zip code also has the lowest median tax rate of 2.24%. Understanding how these cities compare with West Point provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Point Tax Rate
2.24%
Average Clay County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Point, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39773 | 0.78% | 1.70% | 2.24% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across West Point, Mississippi
In West Point, 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 Clay 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 West Point, 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 West Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $49,702, with tax bills ranging from $538 at the 25th percentile to $3,927 at the 90th percentile. The zip code with the highest and lowest median tax bill is 39773, both at $990.
Average West Point Assessed Value
$49,702
Average Clay County Assessed Value
$45,801
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Point, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39773 | $19,016 | $32,622 | $49,702 | $74,585 | $181,708 |
Source: Ownwell
Property Tax Bills Across West Point, Mississippi
In West Point, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the Clay County tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in West Point can expect their tax bills to vary significantly, with the 25th percentile tax bill at $538 and the 75th percentile reaching up to $1,553. The highest median tax bill in the area is $990, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's location within the city, the condition and size of the home, and any applicable exemptions or deductions. These taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these factors impact their tax liability can help in financial planning and in making informed decisions about property investments.
Average West Point Tax Bill
$990
Average Clay County Tax Bill
$835
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across West Point, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39773 | $243 | $538 | $990 | $1,553 | $3,927 |
Source: Ownwell