Wesson, Mississippi Property Taxes
The median property tax rate in Wesson, MS is 1.85%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Wesson, the typical annual property tax bill reaches $470, which is substantially lower than the national median of $2,690. Property taxes in Wesson 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 Wesson'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 Wesson 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
Wesson, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$657
$609
Ownwell’s Wesson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wesson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wesson 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 Wesson, Mississippi
Property taxes in Wesson, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wesson is 1.85%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Wesson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wesson 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. Understanding how these cities compare with Wesson provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wesson Tax Rate
1.85%
Average Lawrence County Tax Rate
1.23%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wesson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39191 | 0.85% | 1.85% | 1.85% | 1.86% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Wesson, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wesson, 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 Lawrence 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. The median tax bills in Wesson vary, with the 25th percentile at $269 and the 75th percentile at $865. The highest and lowest median tax bills are both $470, found in the 39191 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wesson Assessed Value
$35,490
Average Lawrence County Assessed Value
$54,030
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wesson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39191 | $15,039 | $20,208 | $35,490 | $57,697 | $91,973 |
Source: Ownwell
Property Tax Bills Across Wesson, Mississippi
In Wesson, located in Lawrence County, MS, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is typically a percentage of the market value, determined by local tax authorities. Homeowners in Wesson can expect their property tax bills to be influenced by various factors, including the median home price, which stands at $35,490. Property tax bills in Wesson vary significantly. For instance, the 25th percentile tax bill is $269, while the 75th percentile tax bill reaches $865. At the 90th percentile, homeowners may face tax bills as high as $1,229. The median tax bill in the area is $470, which is considerably lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. Lower property tax bills can make homeownership more affordable, but homeowners should still budget for these annual expenses.
Average Wesson Tax Bill
$470
Average Lawrence County Tax Bill
$556
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Wesson, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39191 | $144 | $269 | $470 | $865 | $1,229 |
Source: Ownwell