Utica, Mississippi Property Taxes
The median property tax rate in Utica, Mississippi is 1.34%, which is notably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $39,620 in Utica, the typical annual property tax bill amounts to $513, which is significantly lower than the national median of $2,690. Property taxes in Utica are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Utica'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 Utica or another part of Hinds County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Utica, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$531
$493
Ownwell’s Utica Property Tax Bill Calculator is an invaluable resource for homeowners, real estate investors, and prospective buyers looking to estimate their annual property taxes in Utica. By simply inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Utica to provide an accurate estimate of your property tax bill. This tool offers a clear picture of your potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by Hinds County for tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Utica, Mississippi
Property taxes in Utica, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Utica is 1.34%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Utica set these rates annually, and they can vary significantly across different neighborhoods. Each year, Utica 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 Utica's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39175 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these areas compare with Utica 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 Utica Tax Rate
1.34%
Average Hinds County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Utica, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39175 | 0.79% | 0.95% | 1.34% | 1.81% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Utica, Mississippi
In Utica, 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 Utica, 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. For instance, the median home price in Utica is $39,620, with property tax bills ranging from $299 at the 25th percentile to $1,259 at the 90th percentile. 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 Utica helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Utica Assessed Value
$39,620
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 Utica, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39175 | $12,860 | $22,845 | $39,620 | $67,380 | $112,216 |
Source: Ownwell
Property Tax Bills Across Utica, Mississippi
In Utica, 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 market value of the property. For example, with a median home price of $39,620, the assessed value is used to calculate the tax bill. The median property tax rate in Hinds County is applied to this assessed value to determine the final tax bill. Homeowners in Utica can expect tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $299, while at the 75th percentile, it rises to approximately $823. At the 90th percentile, it can reach up to $1,259. The highest and lowest median tax bills in the area are both $513, which is considerably lower than the national median property tax rate of 0.99%. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Utica.
Average Utica Tax Bill
$513
Average Hinds County Tax Bill
$1,076
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Utica, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39175 | $171 | $299 | $513 | $823 | $1,259 |
Source: Ownwell