Woodville, Mississippi Property Taxes
The median property tax rate in Woodville, MS is 1.92%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Woodville, the typical annual property tax bill reaches $271, which is significantly lower than the national median of $2,690. Property taxes in Woodville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Woodville'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 Woodville 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
Woodville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$374
Ownwell’s Woodville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodville 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 Woodville, Mississippi
Property taxes in Woodville, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodville stands at 1.92%, significantly higher than the U.S. national median of 0.99%. Local government entities within Woodville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodville 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 Woodville's effective property tax rate to other regions and the national median. For comparison, the highest and lowest median property tax rates in Wilkinson County are both found in the 39669 zip code, standing consistently at 1.92%. Understanding how these figures compare with Woodville provides valuable insights into the varying tax landscape across Wilkinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodville Tax Rate
1.92%
Average Wilkinson County Tax Rate
1.92%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39669 | 0.90% | 1.92% | 1.92% | 1.96% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Woodville, Mississippi
In Woodville, 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 Wilkinson 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 Woodville, 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 Woodville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the city is $271.00 in the 39669 zip code, while the lowest median tax bill is also $271.00 in the same zip code.
Average Woodville Assessed Value
$19,471
Average Wilkinson County Assessed Value
$17,148
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39669 | $1,581 | $4,737 | $19,471 | $53,220 | $96,642 |
Source: Ownwell
Property Tax Bills Across Woodville, Mississippi
In Woodville, MS, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Woodville, the median home price is $19,471. Various factors such as property size, location, and improvements influence the assessed value. Homeowners in Woodville experience a range of property tax bills. At the 25th percentile, the tax bill is $82, while at the 75th percentile, it rises to $736, and at the 90th percentile, it reaches $1,478. These figures highlight the variability in tax burdens, which can significantly impact household budgets. The highest median tax bill in the area is $271, recorded in the zip code 39669, which is also the lowest median tax bill for the region. Compared to the national median property tax rate of 0.99%, Woodville's property tax rates offer a more affordable option for homeowners, making it a potentially attractive location for those looking to manage their property tax expenses effectively.
Average Woodville Tax Bill
$271
Average Wilkinson County Tax Bill
$242
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39669 | $27 | $82 | $271 | $736 | $1,478 |
Source: Ownwell