Taxes in Water valley, MS
Updated 2026 • Property, income & sales tax data
📊 Total Annual Tax Burden in Water valley, MS
The combined effect of property, income, and sales taxes determines your total tax burden. Based on Water valley's median household income of $45,718 and a local median home price of $225,500.
🏠 Property Tax in Water valley, MS
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services.
Note: The effective rate represents the percentage of a property's value paid in taxes annually. The US average property tax rate is approximately 1.1%. The estimate above uses the local median home price of $225,500 for Water valley, not the national median of $419,200.
💼 State Income Tax in MS
Income tax rates and brackets vary by state, impacting residents' overall tax burden. MS uses a flat rate — the same percentage applies to all taxable income.
Note: Tax estimates are approximations based on standard deductions and may not account for all applicable credits, deductions, or individual circumstances. For personalized tax advice, please consult a qualified tax professional.
🛒 Sales Tax in Water valley, MS
Sales tax is applied to most retail purchases and is collected by merchants at the point of sale. The rate can vary based on location and type of purchase.
Impact on Common Household Expenses
| Category | Annual Spending | Est. Sales Tax |
|---|---|---|
| Groceries | $7,000 | $560 |
| Retail | $5,000 | $400 |
| Dining | $3,500 | $280 |
| Total Annual | $15,500 | $1,240 |
💡 Did you know? Not all states tax groceries, and some have tax holidays for specific items like back-to-school supplies or emergency preparedness equipment. Check with local authorities for exemptions that might apply to you.
Understanding Your Tax Burden in Water valley, MS
Understanding taxes in Water valley, MS is essential for budgeting. The area has moderate property taxes at 0.82%. State income tax applies at 4.7%. Sales tax is 7.00%. This page breaks down property, income, and sales taxes with calculators and examples.
Tax Pros & Cons of Water valley, MS
Pros
- •Friendly community vibe
- •Family-friendly parks
- •Strong church community
- •Access to outdoor activities
- •Safe neighborhoods
- •Rich southern culture
- •Cultural local events
- •Low cost of living
- •Mild winters
- •Growing small businesses
Cons
- •Less cultural diversity
- •Limited dining choices
- •Limited nightlife options
- •Inequality in schools
- •Job market struggling
- •Political tension
- •Underdeveloped public transport
- •Few educational resources
- •Higher crime rates
- •Healthcare access issues
Frequently Asked Questions
What is the cost of living in Water valley, MS? ▼
The cost of living in Water valley, MS is 0% equal to the national average, with a cost of living index of 100 (where 100 represents the U.S. average). Housing typically accounts for the largest portion of living expenses. See full cost of living breakdown →
Is Water valley, MS a safe place to live? ▼
Water valley, MS is average in terms of safety, with crime rates near the national average. Safety varies significantly by neighborhood. View detailed Water valley crime statistics →
What are the best neighborhoods in Water valley, MS? ▼
The best neighborhoods in Water valley, MS depend on your priorities. For families, look for areas near top-rated schools with lower crime rates. For affordability, neighborhoods vary in price depending on proximity to amenities and schools.
How are the taxes in Water valley, MS? ▼
Tax rates in Water valley, MS include state and local components. The cost of living index of 100 reflects a moderate cost environment compared to the national average. View detailed Water valley tax information →
How does Water valley, MS compare to nearby cities? ▼
Water valley, MS offers comparable costs to nearby communities. With a cost of living index of 100, median home prices of $0, and a crime rate of 0 per 1,000 residents, you can compare these metrics side-by-side. Use the compare feature to evaluate specific cities.
What is the weather like in Water valley, MS? ▼
Weather in Water valley, MS varies by season. Climate data varies by season. View detailed Water valley climate & environment data →
Explore More About Water valley, MS
📅 Last Updated: February 2026
Sources: Tax Foundation, State Revenue Departments, U.S. Census Bureau ACS