State Line, Mississippi Property Taxes
The median property tax rate in State Line, MS is 1.56%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in State Line, the typical annual property tax bill reaches $300, which is significantly lower than the national median of $2,690. Property taxes in State Line 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 State Line'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 State Line 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
State Line, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s State Line Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in State Line with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in State Line 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 State Line, Mississippi
Property taxes in State Line, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in State Line is 1.56%, significantly higher than the U.S. national median of 0.99%. Local government entities within State Line set these rates annually, and they can vary significantly across different neighborhoods. Each year, State Line 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 State Line's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39362 has both the highest and lowest median property tax rate of 1.56%, as it represents a uniform rate across the area. Understanding how these cities compare with State Line provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average State Line Tax Rate
1.56%
Average Wayne County Tax Rate
1.56%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across State Line, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39362 | 0.64% | 0.90% | 1.56% | 1.60% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across State Line, Mississippi
In {city_name}, 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 Wayne 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 {city_name}, 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 {city_name} helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $300, found in zip code 39362.
Average State Line Assessed Value
$29,045
Average Wayne County Assessed Value
$30,525
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across State Line, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39362 | $3,843 | $8,682 | $29,045 | $70,215 | $134,482 |
Source: Ownwell
Property Tax Bills Across State Line, Mississippi
In the city of State Line in Wayne County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and typically reflects a percentage of the property's market value. For homeowners in State Line, the median home price is $29,045. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions. For instance, the 25th percentile of tax bills in State Line is around $120, while the 75th percentile reaches $652, and the 90th percentile can go up to $1,217. These variations highlight how individual property values and specific circumstances can significantly affect tax obligations. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in State Line should be aware of these factors to better anticipate their property tax responsibilities and manage their finances accordingly.
Average State Line Tax Bill
$300
Average Wayne County Tax Bill
$321
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across State Line, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39362 | $58 | $120 | $300 | $652 | $1,217 |
Source: Ownwell