Water Valley, Yalobusha County, Mississippi Property Taxes
Median Water Valley, MS effective property tax rate: 0.98%, significantly lower than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median Water Valley, MS home value: $53,446
Median annual Water Valley, MS tax bill: $516, $1,884 lower than the national median property tax bill of $2,400.
How are property taxes in Yalobusha calculated?
Property taxes in Water Valley, 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 Water Valley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Water Valley, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Water Valley, Yalobusha County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.98%
Estimate Property Tax Bill
$524
$486
Property Tax Rates Across Water Valley, Yalobusha County, Mississippi
Local government entities in Mississippi set tax rates that can vary significantly across different regions. Each county, including Yalobusha, estimates its annual budget to provide essential services and divides it by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and legislation play roles in setting these rates and budgets, this is the basic annual process.
In Water Valley, located in Yalobusha County, the effective property tax rate is comparable to other cities within Mississippi. The median property tax rate in Water Valley is 0.98%, which aligns with the highest and lowest median rates in the area, both recorded at 0.98% in the 38965 zip code. This rate is slightly below the national median property tax rate of 1.02%.
Comparatively, the national median property tax bill is $2,400. Understanding these figures can help property owners in Water Valley make informed decisions about property tax appeals and exemptions, ensuring they are not overpaying and are fully utilizing available benefits.
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 Water Valley Tax Rate
0.98%
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 Yalobusha County Tax Rate
0.96%
Median Effective Mississippi Tax Rate
1.31%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Water Valley, Yalobusha County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38965 | 0.45% | 0.92% | 0.98% | 1.46% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Water Valley, Yalobusha County, Mississippi
When examining property taxes in Water Valley, 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 Yalobusha County appraisal district 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 Yalobusha 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 Water Valley. For example, the median home price in Water Valley is $53,446, with tax bills ranging significantly across the county. The zip code 38965 has the highest median home price at $53,446.
Property Tax Assessment Values Across Water Valley, Yalobusha County, Mississippi
Source: Ownwell
$38,866
$46,701
$54,536
Median Water Valley Market Value
$53,446
Median Yalobusha County Market Value
$47,647
Median Mississippi Market Value
$68,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Water Valley, Yalobusha County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38965 | $12,192 | $30,269 | $53,446 | $78,838 | $121,793 |
Source: Ownwell
Property Tax Bills Across Water Valley, Yalobusha County, Mississippi
Median Water Valley Tax Bill
$516
Median Yalobusha County Tax Bill
$443
Median Mississippi Tax Bill
$854
Median United States Tax Bill
$2,400
Property Tax Bills Across Water Valley, Yalobusha County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38965 | $120 | $268 | $516 | $879 | $1,507 |
Source: Ownwell