Tax Comparison: Water valley, MS vs West fargo, ND
Understanding Your Tax Burden
This page compares the three main types of taxes between Water valley, MS and West fargo, ND: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Water valley, MS
$3,450
Based on a $419,200 home
Rate: 0.8230%
West fargo, ND
$5,079
Based on a $419,200 home
Rate: 1.2115%
| Data | Water valley, MS | West fargo, ND |
|---|---|---|
| Effective Property Tax Rate | 0.8230% | 1.2115% |
| Estimated Property Tax | $3,450 | $5,079 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Water valley, MS are $1,629 lower than in West fargo, ND for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
MS
4.7%
Single: $3,960
Married: $7,128
ND
1.95%-2.5%
Single: $1,887
Married: $3,397
| Data | MS | ND |
|---|---|---|
| Tax Rate | 4.7% | 1.95%-2.5% |
| Single Filer ($100k) | $3,960 | $1,887 |
| Married Couple ($200k) | $7,128 | $3,397 |
| Median Income ($80.6k) | $3,547 | $2,015 |
Comparison: Income taxes in ND are $1,532 lower than in MS for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Water valley, MS
8.000%
Combined rate
Annual sales tax: $1240
(Based on $15,500 spending)
West fargo, ND
8.500%
Combined rate
Annual sales tax: $1317
(Based on $15,500 spending)
| Data | Water valley, MS | West fargo, ND |
|---|---|---|
| State Sales Tax | 7.00% | 5.00% |
| Combined Sales Tax | 8.000% | 8.500% |
| Annual Tax Amount | $1,240 | $1,317 |
Comparison: Shopping in Water valley, MS costs $77 less in annual sales tax than in West fargo, ND for the average household.
Tax Comparison Insights
Tax Insights: Water valley vs West fargo
- Property Tax: Water valley has a 0.3885 percentage points lower effective property tax rate than West fargo.
- Income Tax: Living in ND could save you approximately $1,532 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Water valley is 0.50 percentage points lower than in West fargo.
Overall Tax Burden Comparison
Water valley, MS
$8,237
Combined annual tax burden
Property
$3,450
Income
$3,547
Sales
$1,240
West fargo, ND
$8,410
Combined annual tax burden
Property
$5,079
Income
$2,015
Sales
$1,317
Overall Comparison: Water valley, MS has an estimated $173 lower total tax burden than West fargo, ND based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.