Desoto County, Mississippi Property Taxes
The median property tax rate in DeSoto County is 2.05%, which is significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in DeSoto County at $77,329, the typical annual property tax bill reaches $1,564, which is still below the national median of $2,690. Property taxes in DeSoto County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding DeSoto County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in DeSoto or another part of DeSoto County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Desoto County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.05%
Estimate Property Tax Bill
$1,585
$1,471
Ownwell’s DeSoto Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DeSoto County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in DeSoto County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Desoto County, Mississippi
Property taxes in DeSoto County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in DeSoto County is 2.05%, which is significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within DeSoto County set these rates annually, and they can vary significantly between different areas within the county. Each year, DeSoto County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares DeSoto County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of Horn Lake has one of the higher property tax rates in Mississippi at 2.23%, while the city of Coldwater boasts one of the lowest at 1.00%. Analyzing how DeSoto County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Desoto County Tax Rate
2.05%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Desoto County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | 0.59% | 0.89% | 1.00% | 1.00% | 1.50% |
| Coldwater | 0.54% | 0.59% | 1.00% | 1.00% | 1.30% |
| Hernando | 0.61% | 1.00% | 1.01% | 1.50% | 2.08% |
| Horn Lake | 2.22% | 2.23% | 2.23% | 2.23% | 2.23% |
| Lake Cormorant | 0.60% | 1.00% | 1.01% | 1.44% | 1.51% |
| Nesbit | 0.87% | 1.00% | 1.01% | 1.45% | 1.51% |
| Olive Branch | 1.01% | 1.36% | 2.05% | 2.05% | 2.05% |
| Southaven | 1.30% | 2.17% | 2.18% | 2.18% | 2.19% |
| Walls | 1.01% | 1.44% | 1.51% | 2.16% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Desoto County, Mississippi
In DeSoto County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the DeSoto County Appraisal District. The assessed value, however, 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. Assessment notices in DeSoto County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in DeSoto County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Olive Branch boasts the highest median tax bill at $2,250, while Byhalia has the lowest at $350.
Property Tax Assessment Values Across Desoto County, Mississippi
Source: Ownwell
$35,000
$93,307
$151,613
Average Desoto County Assessed Value
$77,329
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Desoto County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | $15,000 | $26,456 | $37,410 | $63,785 | $249,418 |
| Coldwater | $19,692 | $32,975 | $44,780 | $62,020 | $70,749 |
| Hernando | $6,000 | $13,365 | $38,520 | $95,726 | $179,154 |
| Horn Lake | $53,768 | $60,098 | $67,458 | $80,495 | $102,349 |
| Lake Cormorant | $21,048 | $31,854 | $45,383 | $99,523 | $205,995 |
| Nesbit | $10,057 | $20,000 | $35,000 | $103,242 | $209,263 |
| Olive Branch | $30,000 | $74,967 | $114,854 | $147,204 | $227,266 |
| Southaven | $30,000 | $62,941 | $98,136 | $138,449 | $160,294 |
| Walls | $22,573 | $73,568 | $105,303 | $129,635 | $164,493 |
Source: Ownwell
Property Tax Bills Across Desoto County, Mississippi
In DeSoto County, MS, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county uses a specific assessment ratio to determine this assessed value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in DeSoto County is $77,329. Homeowners in this county experience a wide range of tax bills, with the 25th percentile at $512 and the 75th percentile at $2,381. The highest median tax bill in the county is found in Olive Branch at $2,250, while the lowest is in Byhalia at $350. These property tax bills significantly impact homeowners by affecting their annual expenses and overall cost of homeownership. Understanding how these taxes are calculated can help homeowners manage their finances more effectively.
Average Desoto County Tax Bill
$1,564
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Desoto County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | $150 | $224 | $350 | $584 | $2,204 |
| Coldwater | $143 | $226 | $360 | $499 | $755 |
| Hernando | $61 | $134 | $375 | $1,429 | $2,736 |
| Horn Lake | $1,172 | $1,326 | $1,497 | $1,782 | $2,251 |
| Lake Cormorant | $189 | $283 | $425 | $993 | $2,466 |
| Nesbit | $122 | $200 | $375 | $1,220 | $2,273 |
| Olive Branch | $368 | $1,426 | $2,250 | $2,792 | $3,463 |
| Southaven | $370 | $1,319 | $1,987 | $2,643 | $3,199 |
| Walls | $236 | $1,081 | $1,672 | $2,081 | $3,201 |
Source: Ownwell
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