Impact to Taxpayers
A property tax increase is based on the assessed value of a home (the assessed value is 10% of the total value of the home, not the market value).
How do I find my home’s Total Value and Assessed Value?
- Visit the City Clerk's webpage at oxfordms.net.
- Click on “Search Property Tax Information” to view your home’s assessed value.
Example:
3,216 Square Foot Home in City of Oxford
Market Value = $450,000 to $550,000
Total Value = $242,540
Assessed Value = $24,540
Annual Tax Increase = $45.72
| Home Total Value (not market value) |
Assessed Value (10% of Total Value) |
Annual Tax Increase | Monthly Tax Increase |
|---|---|---|---|
| $100,000 | $10,000 | $18.85 | $1.57 |
| $200,000 | $20,000 | $37.70 | $3.14 |
| $300,000 | $30,000 | $56.55 | $4.71 |
| $400,000 | $40,000 | $75.40 | $6.28 |
| $500,000 | $50,000 | $94.25 | $7.85 |
| $600,000 | $60,000 | $113.10 | $9.43 |
| $700,000 | $70,000 | $131.95 | $11.00 |
| $800,000 | $80,000 | $150.80 | $12.57 |
| $900,000 | $90,000 | $169.65 | $14.14 |
| $1,000,000 | $100,000 | $188.50 | $15.71 |