Taylorsville, Mississippi Property Taxes
The median property tax rate in Taylorsville, MS is 1.28%, slightly above the national median of 0.99% but below the Mississippi state median of 1.31%. With a median home value of $54,480, the typical annual property tax bill in Taylorsville amounts to $739, which is significantly lower than the national median of $2,690. Property taxes in Taylorsville are based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Taylorsville'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 Taylorsville or another part of Jones County, being well-informed about the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Taylorsville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$697
Ownwell’s Taylorsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taylorsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taylorsville 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 Taylorsville, Mississippi
Property taxes in Taylorsville, Mississippi, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Taylorsville is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within Taylorsville set these rates annually, and they can vary considerably across different neighborhoods. Each year, Taylorsville 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 Taylorsville's effective property tax rate to other areas in Mississippi and the national median. For comparison, the 39168 zip code has both the highest and lowest median property tax rate of 1.28%. Understanding how these cities compare with Taylorsville provides valuable insights into the varying tax landscape across Jones County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taylorsville Tax Rate
1.28%
Average Jones County Tax Rate
1.30%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taylorsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39168 | 0.53% | 0.88% | 1.28% | 1.93% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Taylorsville, Mississippi
In Taylorsville, 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 Jones 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 Taylorsville, 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 Taylorsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $739.00 in the 39168 zip code, while the lowest median tax bill is also $739.00 in the same zip code.
Average Taylorsville Assessed Value
$54,480
Average Jones County Assessed Value
$66,415
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taylorsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39168 | $12,970 | $28,880 | $54,480 | $89,385 | $145,422 |
Source: Ownwell
Property Tax Bills Across Taylorsville, Mississippi
In Taylorsville, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is recalculated periodically to reflect changes in the housing market. For example, with a median home price of $54,480, homeowners can expect varying tax bills depending on their property's assessed value and the local tax rate. Factors such as the home's location within Jones County and any applicable exemptions or deductions also play a role in determining the final tax bill. For instance, tax bills in Taylorsville range from $322 at the 25th percentile to $1,943 at the 90th percentile. This variation can significantly impact homeowners, particularly when comparing to the national median property tax rate of 0.99%. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly. Accurate assessments and awareness of local tax rates are crucial for managing these expenses effectively.
Average Taylorsville Tax Bill
$739
Average Jones County Tax Bill
$874
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Taylorsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39168 | $159 | $322 | $739 | $1,343 | $1,943 |
Source: Ownwell