Bassfield, Mississippi Property Taxes
The median property tax rate in Bassfield, MS is 1.21%, slightly above the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $53,280 in Bassfield, the typical annual property tax bill amounts to $631, which is significantly below the national median of $2,690. Property taxes in Bassfield are determined based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Navigating Bassfield's property tax system, leveraging available exemptions, and finding opportunities for reductions can result in substantial yearly savings. Whether you're in the heart of Bassfield or elsewhere in Jefferson Davis County, a thorough understanding of the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Bassfield, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$645
$598
Ownwell’s Bassfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bassfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bassfield 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 Bassfield, Mississippi
Property taxes in Bassfield, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bassfield is 0.71%, lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Bassfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bassfield 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 Bassfield's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39421 zip code has the highest median property tax rate of 0.71%, while the 39421 zip code also has the lowest median tax rate of 0.71%. Understanding how these areas compare with Bassfield provides valuable insights into the varying tax landscape across Jefferson Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bassfield Tax Rate
1.21%
Average Jefferson Davis County Tax Rate
1.48%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bassfield, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39421 | 0.55% | 0.97% | 1.21% | 2.06% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Bassfield, Mississippi
In Bassfield, 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 Jefferson Davis 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. 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 Bassfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bassfield, the median home price is $53,280, with the 25th percentile tax bill at $328 and the 75th percentile at $1,149. The highest and lowest median tax bills are both $631, found in the 39421 zip code.
Average Bassfield Assessed Value
$53,280
Average Jefferson Davis County Assessed Value
$51,960
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bassfield, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39421 | $11,765 | $27,822 | $53,280 | $86,705 | $139,620 |
Source: Ownwell
Property Tax Bills Across Bassfield, Mississippi
In Bassfield, property tax bills are determined by assessing the value of a property and applying the local tax rate set by Jefferson Davis County. The assessed value is typically a percentage of the property's market value. Homeowners in Bassfield can expect their tax bills to vary based on their property's assessed value and the local tax rate. For instance, the median home price in Bassfield is $53,280. Property tax bills fall within a range, with the 25th percentile at $328 and the 75th percentile at $1,149, while the 90th percentile reaches $1,833. The highest and lowest median tax bills both stand at $631, indicating a relatively consistent tax rate across the area. Compared to the national median property tax rate of 0.99%, Bassfield's rates can be considered moderate. These property taxes are crucial for funding local services like schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners should be aware of these factors as they influence the overall cost of owning property in Bassfield.
Average Bassfield Tax Bill
$631
Average Jefferson Davis County Tax Bill
$654
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Bassfield, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39421 | $189 | $328 | $631 | $1,149 | $1,833 |
Source: Ownwell