Yazoo City, Mississippi Property Taxes
The median property tax rate in Yazoo City, MS is 1.75%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Yazoo City, the typical annual property tax bill reaches $750, which is significantly below the national median of $2,690. Property taxes in Yazoo City 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 Yazoo City'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 Yazoo City 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
Yazoo City, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$782
Ownwell’s Yazoo City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yazoo City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yazoo City 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 Yazoo City, Mississippi
Property taxes in Yazoo City, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yazoo City is 1.75%, significantly higher than the U.S. national median of 0.99%. Local government entities within Yazoo City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yazoo City 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 Yazoo City's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39194 has the highest median property tax rate of 1.75%, while the lowest median tax rate is also 1.75% in the same zip code. Understanding how these cities compare with Yazoo City provides valuable insights into the varying tax landscape across Yazoo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yazoo City Tax Rate
1.75%
Average Yazoo County Tax Rate
1.74%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yazoo City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39194 | 0.70% | 1.07% | 1.75% | 3.03% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Yazoo City, Mississippi
In Yazoo City, 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 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 Yazoo City, 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 Yazoo City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 39194, both valued at $750.
Average Yazoo City Assessed Value
$44,685
Average Yazoo County Assessed Value
$47,455
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yazoo City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39194 | $10,214 | $20,825 | $44,685 | $83,088 | $136,327 |
Source: Ownwell
Property Tax Bills Across Yazoo City, Mississippi
In Yazoo City, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in this region experience property tax rates that vary depending on the assessed value of their homes and specific local tax rates. For instance, the median home price in Yazoo City is $44,685, and property tax bills can range significantly. The 25th percentile tax bill is around $347, while the 75th percentile tax bill can reach up to $1,341. Several factors influence the final tax bill, including the property's assessed value, local levy rates, and any applicable exemptions or reductions. For homeowners, these taxes are a critical consideration as they impact annual housing costs. Compared to the national median property tax rate of 0.99%, Yazoo City's property tax rates may offer some relief, but they still represent a significant expense for homeowners. Understanding these factors is essential for effective financial planning and managing homeownership costs in Yazoo City.
Average Yazoo City Tax Bill
$750
Average Yazoo County Tax Bill
$698
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Yazoo City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39194 | $152 | $347 | $750 | $1,341 | $2,123 |
Source: Ownwell