Brookhaven, Franklin County, Mississippi Property Taxes
Median Brookhaven, MS effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median Brookhaven, MS home value: $62,300
Median annual Brookhaven, MS tax bill: $633, $1,767 lower than the national median property tax bill of $2,400.
How are property taxes in Franklin calculated?
Property taxes in Brookhaven, MS are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Brookhaven’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Brookhaven, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Brookhaven, Franklin County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.86%
Estimate Property Tax Bill
$536
$497
Property Tax Rates Across Brookhaven, Franklin County, Mississippi
Local government entities are responsible for setting property tax rates, which can differ significantly across a state. This variation is due to each county's annual estimation of its budget needs to fund essential services. The county then divides this budget by the total assessed value of all taxable properties within its jurisdiction, resulting in the property tax rate. Although there are votes and legislative measures involved in determining these rates and budgets, this is essentially the yearly procedure.
In Brookhaven, located in Franklin County, Mississippi, the effective property tax rate offers an interesting comparison to other cities within the state. The median property tax rate in Mississippi is notably lower than the national median of 1.02%. This means homeowners in Brookhaven generally face a lighter property tax burden compared to many other parts of the country. By understanding these rates, property owners can better anticipate their annual expenses and make informed decisions about appealing their property taxes or seeking exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Brookhaven Tax Rate
0.86%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Franklin County Tax Rate
1.37%
Median Effective Mississippi Tax Rate
1.31%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Brookhaven, Franklin County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39601 | 0.27% | 0.75% | 0.86% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Brookhaven, Franklin County, Mississippi
When examining property taxes in Brookhaven, MS, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Franklin County Tax Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Franklin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Brookhaven. For example, the median home price in Brookhaven is $62,300, with tax bills ranging significantly across the county. Zip code 39601 has the highest median home price at $62,300.
Property Tax Assessment Values Across Brookhaven, Franklin County, Mississippi
Source: Ownwell
$35,765
$59,740
$83,715
Median Brookhaven Market Value
$62,300
Median Franklin County Market Value
$51,050
Median Mississippi Market Value
$68,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Brookhaven, Franklin County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39601 | $18,308 | $33,090 | $62,300 | $95,200 | $143,902 |
Source: Ownwell
Property Tax Bills Across Brookhaven, Franklin County, Mississippi
In Brookhaven, Mississippi, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Factors influencing the tax bill include changes in property value and local government budgets. Homeowners in Brookhaven face a median property tax bill of $633, significantly lower than the national median of $2,400. However, tax bills can vary widely, with the 25th percentile at $284 and the 90th percentile reaching $1,704. This variability can impact homeowners' financial planning and affordability.
Ownwell can assist homeowners in Brookhaven by identifying potential savings on property tax bills. Through detailed analysis and expert knowledge of local tax laws, Ownwell helps ensure that homeowners are not overpaying on their property taxes. By appealing assessed values and securing applicable exemptions, Ownwell can significantly reduce the annual tax burden, making homeownership more affordable and financially manageable.
Median Brookhaven Tax Bill
$633
Median Franklin County Tax Bill
$566
Median Mississippi Tax Bill
$854
Median United States Tax Bill
$2,400
Property Tax Bills Across Brookhaven, Franklin County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39601 | $99 | $284 | $633 | $1,030 | $1,704 |
Source: Ownwell