Wesson, Mississippi Property Taxes
The median property tax rate in Wesson, MS is 1.15%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Wesson at $55,610, the typical annual property tax bill amounts to $556, which is significantly below the national median of $2,690. Property taxes in Wesson are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wesson’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wesson or elsewhere in the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wesson, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$640
$593
Ownwell’s Wesson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wesson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wesson 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 Wesson, Mississippi
Property taxes in Wesson, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wesson is 0.66%, which is lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Wesson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wesson 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 Wesson's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39191 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Wesson provides valuable insights into the varying tax landscape across Copiah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wesson Tax Rate
1.15%
Average Copiah County Tax Rate
1.18%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wesson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39191 | 0.57% | 0.83% | 1.15% | 1.70% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Wesson, Mississippi
In Wesson, 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 Copiah County Tax Assessor 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 Wesson, 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 Wesson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wesson, both at $556.00, are found in the 39191 zip code.
Average Wesson Assessed Value
$55,610
Average Copiah County Assessed Value
$45,250
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wesson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39191 | $9,540 | $26,110 | $55,610 | $103,300 | $168,584 |
Source: Ownwell
Property Tax Bills Across Wesson, Mississippi
In Wesson, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and market trends influence the assessed value. For instance, the median home price in Wesson is $55,610. Homeowners in the 25th percentile of tax bills pay around $266 annually, while those in the 75th percentile pay about $1,047. The highest median tax bill in the area is $556, which is notably lower than the national median property tax rate of 0.99%. This relatively low tax burden can be beneficial for homeowners, making it more affordable to maintain property ownership. However, it's crucial for homeowners to stay informed about potential changes in assessed values and local tax rates to manage their financial planning effectively.
Average Wesson Tax Bill
$556
Average Copiah County Tax Bill
$484
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Wesson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39191 | $131 | $266 | $556 | $1,047 | $1,872 |
Source: Ownwell