Understanding Our Property Taxes
As Water Valley enters the city budget season, property taxes are naturally a key topic of discussion. Recently, there has been some community dialogue suggesting that Water Valley’s property taxes are unusually low. To provide clarity, we want to share the current data.
To provide context, property taxes are determined by a municipality’s millage rate. This rate dictates the taxes residents and businesses pay each year on homes, vehicle tags, businesses, and utility property.
When looking at the broader region, Water Valley’s rates are actually the highest among our neighboring cities.
- Bruce: 26.40 mills
- Oxford: 32.65 mills
- Calhoun City: 33.50 mills
- Sardis: 35.55 mills
- Batesville: 37.80 mills
- Coffeeville: 41.26 mills
- Water Valley: 43.50 mills
Last year, Water Valley’s total property tax yield was approximately $1 million, with overall property valuation in the city remaining steady. Our taxpayers consistently do their part to support the city, and the data reflects that our rates are highly competitive for the region.
