Foxworth, Walthall County, Mississippi Property Taxes
The median property tax rate in Foxworth, MS is 0.88%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Foxworth at $58,650, the typical annual property tax bill is approximately $480, significantly below the national median of $2,690. Property taxes in Foxworth are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Foxworth'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 Foxworth or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Foxworth, Walthall County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$516
$479
Ownwell’s Foxworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Foxworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foxworth 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 Foxworth, Walthall County, Mississippi
Property taxes in Foxworth, Mississippi, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Foxworth is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Foxworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foxworth 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 Foxworth's effective property tax rate to other areas in Mississippi and the national median. For comparison, the 39483 zip code has the same median property tax rate of 0.88%. Understanding how these areas compare with Foxworth provides valuable insights into the varying tax landscape across Walthall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Foxworth Tax Rate
0.88%
Average Walthall County Tax Rate
1.14%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Foxworth, Walthall County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39483 | 0.14% | 0.61% | 0.88% | 1.63% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Foxworth, Walthall County, Mississippi
In Foxworth, 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 Walthall 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 home price in Foxworth is $58,650. In the 39483 zip code, the median tax bill is $480, which is both the highest and lowest in the area. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Foxworth, Walthall County, Mississippi
Source: Ownwell
$58,650
$69,998
$81,345
Average Foxworth Assessed Value
$58,650
Average Walthall County Assessed Value
$59,600
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Foxworth, Walthall County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39483 | $14,002 | $32,100 | $58,650 | $82,190 | $161,312 |
Source: Ownwell
Property Tax Bills Across Foxworth, Walthall County, Mississippi
In Foxworth, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and is a percentage of the home's market value. For example, with a median home price of $58,650, homeowners can expect their property tax bill to reflect this valuation. The tax rate applied in Foxworth, located in Walthall County, influences the final tax bill amount, which can vary significantly. For instance, the 25th percentile of tax bills is around $145, while the 75th percentile reaches up to $867. At the higher end, the 90th percentile tax bill is approximately $1,802. These variations highlight how different factors such as property size, location, and improvements can affect the assessed value and, consequently, the tax bill. Homeowners in Foxworth need to be aware of these factors as they directly impact their annual property tax obligations. Compared to the national median property tax rate of 0.99%, Foxworth's property tax bills can be quite variable, reflecting local economic conditions and property values.
Average Foxworth Tax Bill
$480
Average Walthall County Tax Bill
$680
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Foxworth, Walthall County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39483 | $55 | $145 | $480 | $867 | $1,802 |
Source: Ownwell