Edwards, Mississippi Property Taxes
The median property tax rate in Edwards, MS is 1.24%, slightly higher than the national median of 0.99% but below the Mississippi state median of 1.31%. With the median home value in Edwards at $41,010, the typical annual property tax bill amounts to $509, which is considerably lower than the national median of $2,690. Property taxes in Edwards are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Edwards' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Edwards 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
Edwards, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$509
$472
Ownwell’s Edwards Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edwards with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edwards 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 Edwards, Mississippi
Property taxes in Edwards, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edwards is 1.24%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Edwards set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edwards 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 Edwards' effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39066 zip code has both the highest and lowest median property tax rate of 1.24%. Understanding how these cities compare with Edwards provides valuable insights into the varying tax landscape across Hinds County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edwards Tax Rate
1.24%
Average Hinds County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edwards, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39066 | 0.79% | 0.98% | 1.24% | 1.81% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Edwards, Mississippi
In Edwards, 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 Hinds 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 Edwards, 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 Edwards helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 39066 has the highest median tax bill at $509.00, which is still below the national median property tax rate of 0.99%.
Average Edwards Assessed Value
$41,010
Average Hinds County Assessed Value
$63,595
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edwards, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39066 | $10,010 | $20,062 | $41,010 | $75,530 | $144,530 |
Source: Ownwell
Property Tax Bills Across Edwards, Mississippi
In Edwards, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value, reflecting current real estate conditions. Factors such as the property's size, age, location, and any improvements or renovations are considered in the assessment process. The local tax rate, applied to this assessed value, determines the final tax bill. For homeowners in Edwards, the median home price is $41,010. Property tax bills in this area vary significantly, with the 25th percentile at $270 and the 75th percentile at $896. At the 90th percentile, homeowners can expect to pay around $1,700. The highest and lowest median tax bills both stand at $509, indicating a relatively consistent tax rate within the area. Compared to the national median property tax rate of 0.99%, Edwards' rates reflect the local economic environment, impacting homeowners' annual financial obligations.
Average Edwards Tax Bill
$509
Average Hinds County Tax Bill
$1,076
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Edwards, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39066 | $134 | $270 | $509 | $896 | $1,700 |
Source: Ownwell