Kosciusko, Mississippi Property Taxes
The median property tax rate in Kosciusko, MS is 1.66%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Kosciusko at $31,505, the typical annual property tax bill reaches $338, which is significantly lower than the national median of $2,690. Property taxes in Kosciusko 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 Kosciusko'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 Kosciusko 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
Kosciusko, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$523
Ownwell’s Kosciusko Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kosciusko with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kosciusko 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 Kosciusko, Mississippi
Property taxes in Kosciusko, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kosciusko is 0.52%, significantly lower than both the Mississippi state median of 0.65% and the U.S. national median of 0.99%. Local government entities within Kosciusko set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kosciusko 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 Kosciusko's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39090 has the highest median property tax rate of 0.52%, while the lowest median tax rate is also 0.52%. Understanding how these cities compare with Kosciusko provides valuable insights into the varying tax landscape across Attala County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kosciusko Tax Rate
1.66%
Average Neshoba County Tax Rate
1.25%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kosciusko, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39090 | 1.66% | 1.66% | 1.66% | 1.66% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Kosciusko, Mississippi
In Kosciusko, 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 local 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 Kosciusko, 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 Kosciusko helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Kosciusko is $338 in the 39090 zip code, matching the lowest median tax bill, also $338 in the same zip code.
Average Kosciusko Assessed Value
$31,505
Average Neshoba County Assessed Value
$53,540
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kosciusko, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39090 | $3,731 | $12,462 | $31,505 | $48,958 | $71,915 |
Source: Ownwell
Property Tax Bills Across Kosciusko, Mississippi
In Kosciusko, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessment ratio in Mississippi is typically 10% of the market value for residential properties. For instance, with a median home price of $31,505, the assessed value would be approximately $3,150.5. The tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions. In Kosciusko, tax bills can vary significantly. For example, the 25th percentile tax bill is around $111, while the 75th percentile tax bill reaches $574. At the 90th percentile, homeowners might see a tax bill as high as $1,027. This variation can impact homeowners differently, with higher-valued properties typically shouldering a larger tax burden. Despite this range, Kosciusko's property taxes remain relatively low compared to the national median property tax rate of 0.99%.
Average Kosciusko Tax Bill
$338
Average Neshoba County Tax Bill
$527
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Kosciusko, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39090 | $62 | $111 | $338 | $574 | $1,027 |
Source: Ownwell