Braxton, Mississippi Property Taxes
The median property tax rate in Braxton, MS is 0.71%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Braxton at $82,920, the typical annual property tax bill is $516, well below the national median of $2,690. Property taxes in Braxton 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 Braxton'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 Braxton 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
Braxton, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$589
Ownwell’s Braxton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Braxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Braxton to project your property tax bill. This invaluable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, scroll down to find more localized information. Your property’s assessed value is the figure assigned by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Braxton, Mississippi
Property taxes in Braxton, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Braxton is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Braxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Braxton 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 Braxton's property tax rate compares to other areas within 28121 County and the national median provides valuable insights into the varying tax landscape. This helps homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Braxton Tax Rate
0.71%
Average Rankin County Tax Rate
0.91%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Braxton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39044 | 0.21% | 0.51% | 0.71% | 1.03% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Braxton, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Braxton, MS. 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 Rankin 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 Braxton, 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. The median home price in Braxton is $82,920, with tax bills ranging from $262 at the 25th percentile to $1,202 at the 75th percentile. The highest median tax bill is $516 in zip code 39044. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Braxton Assessed Value
$82,920
Average Rankin County Assessed Value
$136,735
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Braxton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39044 | $23,038 | $39,275 | $82,920 | $146,580 | $228,292 |
Source: Ownwell
Property Tax Bills Across Braxton, Mississippi
In Braxton, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Braxton is $82,920, and property taxes are levied by local authorities to fund public services. To determine the tax bill, the assessed value is multiplied by the local tax rate. For instance, the median tax bill in Braxton is $516, which reflects the local rate and assessed property values. Several factors influence the final tax bill, including the home's market value, any applicable exemptions, and the specific tax rate set by local jurisdictions. Homeowners in Braxton can expect a tax bill ranging from $262 at the 25th percentile to $1,202 at the 75th percentile, with the highest bills reaching up to $1,983 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Braxton's rates are relatively modest, making it an attractive location for homeowners seeking lower property taxes.
Average Braxton Tax Bill
$516
Average Rankin County Tax Bill
$1,263
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Braxton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39044 | $133 | $262 | $516 | $1,202 | $1,983 |
Source: Ownwell