38683 Property Tax Rate

Property owners in ZIP code 38683 (Walnut, Mississippi) pay a median of $670/year in property taxes on homes valued at $113,100. This translates to an effective tax rate of 0.59%, which is 19% below the Mississippi state average of 0.73%.

The monthly property tax burden for a median-valued home in 38683 is approximately $56, which factors into escrow payments on mortgages. This ZIP code is located within Tippah County. This is $240 less than the Mississippi average of $910/year.

Compared to similar ZIP codes in Mississippi, 38683 has lower property taxes. ZIP codes with similar effective rates include 39170 (0.59%) and 39629 (0.59%).

In Walnut, property taxes represent approximately 1.8% of the median household income of $36,992, providing context for the relative tax burden on homeowners in this area.

Mississippi reassesses property at fair market value upon transfer; the Tippah County assessor will establish a new appraised value from your purchase price. The $7,500 Homestead Exemption is available to all owner-occupied primary residences in Mississippi and typically applies automatically — contact the Tippah County Assessor to confirm your homestead exemption is registered and will appear on your first assessment. File any exemption application within 30 days of closing.