Louisville, Mississippi Property Taxes
The median property tax rate in Louisville, MS is 0.65%, significantly lower than both the national median of 0.99% and Mississippi's state median of 1.31%. With a median home value of $67,807 in Louisville, the typical annual property tax bill is $370, well below the national median of $2,690. Property taxes in Louisville are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Louisville'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 Louisville or another part of Winston County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Louisville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$441
Ownwell’s Louisville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Louisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Louisville 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 Louisville, Mississippi
Property taxes in Louisville, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Louisville is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Louisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisville 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 Louisville's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 39339 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Louisville provides valuable insights into the varying tax landscape across Winston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Louisville Tax Rate
0.65%
Average Winston County Tax Rate
0.66%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39339 | 0.18% | 0.27% | 0.65% | 0.80% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Louisville, Mississippi
In Louisville, 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 Winston 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 Louisville, 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. Louisville has a median home price of $67,807, with tax bills varying significantly. For instance, the 25th percentile tax bill is $171, while the 75th percentile reaches $775, and the 90th percentile peaks at $1,471. The highest and lowest median tax bills, both $370, are found in the 39339 zip code. 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 Louisville Assessed Value
$67,807
Average Winston County Assessed Value
$66,478
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Louisville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39339 | $20,074 | $44,952 | $67,807 | $109,963 | $172,164 |
Source: Ownwell
Property Tax Bills Across Louisville, Mississippi
In Louisville, located in Winston County, MS, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Louisville stands at $67,807, and local tax rates are applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Louisville can expect a wide range of tax bills. For example, the 25th percentile tax bill is $171, while the 75th percentile reaches $775. At the 90th percentile, homeowners might see tax bills as high as $1,471. The median tax bill in Louisville is $370, which is considerably lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners better manage their finances and plan for future expenses.
Average Louisville Tax Bill
$370
Average Winston County Tax Bill
$387
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39339 | $92 | $171 | $370 | $775 | $1,471 |
Source: Ownwell