West, Mississippi Property Taxes
The median property tax rate in West, MS is 1.57%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in West, the typical annual property tax bill reaches $456, which is significantly lower than the national median of $2,690. Property taxes in West are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding West'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 West 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
West, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s WEST Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WEST with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WEST 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 West, Mississippi
Property taxes in West, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West is 1.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within West set these rates annually, and they can vary significantly across different neighborhoods. Each year, West 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 West's effective property tax rate to other areas in Holmes County and the national median. For comparison, the zip code 39192 has both the highest and lowest median property tax rate of 1.57%. Understanding how these areas compare with West provides valuable insights into the varying tax landscape across Holmes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Tax Rate
1.57%
Average Holmes County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across West, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39192 | 0.88% | 1.13% | 1.57% | 1.98% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across West, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in WEST, Mississippi. 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 Holmes 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 WEST, 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. The highest median tax bill in the area is $456.00 in zip code 39192, while the lowest median tax bill is also $456.00 in the same zip code. Being aware of these valuation processes in WEST helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West Assessed Value
$33,550
Average Holmes County Assessed Value
$35,335
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39192 | $7,144 | $15,925 | $33,550 | $56,252 | $82,139 |
Source: Ownwell
Property Tax Bills Across West, Mississippi
In West, located in Holmes County, MS, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $33,550, local tax rates are applied to this assessed value to calculate the annual tax bill. Factors such as property location, home improvements, and local tax levies influence the final amount. Homeowners in West experience varied tax bills, with the 25th percentile paying around $253, while those in the 75th percentile see bills closer to $779, and the 90th percentile reaching up to $1,294. This range indicates significant differences in tax burdens based on property value and specific circumstances. Compared to the national median property tax rate of 0.99%, West's property tax rates offer a perspective on how local policies impact homeowners' financial responsibilities. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average West Tax Bill
$456
Average Holmes County Tax Bill
$549
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across West, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39192 | $110 | $253 | $456 | $779 | $1,294 |
Source: Ownwell