Weir, Mississippi Property Taxes
The median property tax rate in Weir, Mississippi is 0.66%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Weir, the typical annual property tax bill is $335, well below the national median of $2,690. Property taxes in Weir 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 Weir'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 Weir 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
Weir, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$238
Ownwell’s Weir Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weir 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 Winston County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Weir, Mississippi
Property taxes in Weir, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weir is 0.66%, which is lower than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Weir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weir 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 Weir's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39772 has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Weir 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 Weir Tax Rate
0.66%
Average Winston County Tax Rate
0.66%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weir, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39772 | 0.17% | 0.36% | 0.66% | 0.84% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Weir, Mississippi
In Weir, 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 Weir, 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 Weir is $36,078, with the 25th percentile tax bill at $188 and the 75th percentile at $489. 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 Weir helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Weir Assessed Value
$36,078
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 Weir, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39772 | $9,980 | $14,741 | $36,078 | $59,995 | $70,986 |
Source: Ownwell
Property Tax Bills Across Weir, Mississippi
In Weir, located in Winston County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Weir is $36,078. To determine the tax bill, local authorities apply a tax rate to the assessed value. This rate is influenced by various factors, including local government budgets and the needs of public services like schools and infrastructure. Homeowners in Weir can expect to pay property taxes within a range, with the 25th percentile tax bill at $188 and the 75th percentile at $489. The 90th percentile tax bill reaches up to $581. With a highest median tax bill of $335 in the zip code 39772, Weir's property taxes are relatively low compared to the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to essential community services but also represent a financial obligation that varies based on property value and local tax rates.
Average Weir Tax Bill
$335
Average Winston County Tax Bill
$387
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Weir, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39772 | $100 | $188 | $335 | $489 | $581 |
Source: Ownwell