Picayune, Mississippi Property Taxes
The median property tax rate in Picayune, MS is 1.01%, 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 Picayune at $94,357, the typical annual property tax bill reaches $1,076, which is below the national median of $2,690. Property taxes in Picayune are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Picayune'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 Picayune or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Picayune, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$953
$884
Ownwell’s Picayune Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Picayune with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Picayune 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 Picayune, Mississippi
Property taxes in Picayune, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Picayune is 0.80%, lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Picayune set these rates annually, and they can vary significantly across different neighborhoods. Each year, Picayune 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 Picayune's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39466 zip code has the highest median property tax rate of 0.80%, while the same 39466 zip code also has the lowest median tax rate of 0.80%. Understanding how these areas compare with Picayune provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Picayune Tax Rate
1.01%
Average Hancock County Tax Rate
1.25%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Picayune, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39466 | 0.95% | 0.95% | 1.01% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Picayune, Mississippi
In Picayune, 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 Hancock 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 Picayune, 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 Picayune helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Picayune, the median home price is $94,357, with the highest and lowest median tax bills both at $1,076 in zip code 39466.
Average Picayune Assessed Value
$94,357
Average Hancock County Assessed Value
$120,581
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Picayune, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39466 | $39,776 | $60,912 | $94,357 | $150,919 | $217,330 |
Source: Ownwell
Property Tax Bills Across Picayune, Mississippi
In Picayune, located in Hancock County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value of the property, which is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $94,357, homeowners can expect varying tax bills depending on specific factors such as exemptions or special assessments. The tax bill can significantly impact homeowners, with the 25th percentile tax bill at $690 and the 75th percentile reaching $1,637. For those in the 90th percentile, the tax bill can be as high as $2,300. Comparatively, the highest median tax bill in the area is $1,076, which is notably lower than the national median property tax rate of 0.99%. These figures illustrate the range and potential financial burden property taxes can impose on homeowners in Picayune, emphasizing the importance of understanding and managing these costs effectively.
Average Picayune Tax Bill
$1,076
Average Hancock County Tax Bill
$1,554
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Picayune, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39466 | $459 | $690 | $1,076 | $1,637 | $2,300 |
Source: Ownwell