Woodland, Clay County, Mississippi Property Taxes
The median property tax rate in Woodland, MS is 0.92%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $27,387 in Woodland, the typical annual property tax bill is $281, significantly less than the national median of $2,690. Property taxes in Woodland are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Woodland's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Woodland or another part of the city, grasping the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Woodland, Clay County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$252
$234
Ownwell’s Woodland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodland 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 Woodland, Clay County, Mississippi
Property taxes in Woodland, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodland is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Woodland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodland 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 Woodland's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39776 zip code has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Woodland 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 Woodland Tax Rate
0.92%
Average Clay County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodland, Clay County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39776 | 0.68% | 0.72% | 0.92% | 1.67% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Woodland, Clay County, Mississippi
In Woodland, 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 Woodland, 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 Woodland 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 $281 in the 39776 zip code, highlighting a consistent tax environment within the area.
Property Tax Assessment Values Across Woodland, Clay County, Mississippi
Source: Ownwell
$22,826
$36,264
$49,702
Average Woodland Assessed Value
$27,387
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 Woodland, Clay County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39776 | $10,064 | $16,899 | $27,387 | $57,218 | $79,908 |
Source: Ownwell
Property Tax Bills Across Woodland, Clay County, Mississippi
In Woodland, located in Clay 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 Woodland is $27,387. Homeowners here can expect their property tax bills to vary significantly depending on the assessed value and applicable tax rates. For instance, the tax bill at the 25th percentile is $153, while at the 75th percentile, it rises to $668. At the 90th percentile, tax bills can reach up to $1,032. These bills are influenced by multiple factors, including the property’s assessed value, local tax rates, and any applicable exemptions. With the national median property tax rate at 0.99%, Woodland's tax rates provide a point of comparison for homeowners evaluating their financial commitments. This variability in tax bills can significantly impact homeowners, affecting their annual budgeting and long-term financial planning. Understanding these factors is crucial for homeowners to manage their property-related expenses effectively.
Average Woodland Tax Bill
$281
Average Clay County Tax Bill
$835
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodland, Clay County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39776 | $101 | $153 | $281 | $668 | $1,032 |
Source: Ownwell