Prairie, Mississippi Property Taxes
The median property tax rate in Prairie, MS is 1.00%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $40,530 in Prairie, the typical annual property tax bill is $363, significantly below the national median of $2,690. Property taxes in Prairie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Prairie's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Prairie or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prairie, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Prairie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prairie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prairie to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Prairie, Mississippi
Property taxes in Prairie, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prairie is 1.00%, higher than the U.S. national median of 0.99%. Local government entities within Prairie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prairie estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Prairie's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39756 zip code has the highest median property tax rate of 1.00%, while the lowest median tax rate is also 1.00%. Understanding how these cities compare with Prairie provides valuable insights into the varying tax landscape across Chickasaw County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prairie Tax Rate
1.00%
Average Chickasaw County Tax Rate
1.05%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prairie, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39756 | 0.43% | 0.85% | 1.00% | 1.92% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Prairie, Mississippi
In Prairie, Mississippi, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Chickasaw County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Prairie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Prairie, the zip code with the highest median tax bill is 39756, with a median tax bill of $363.00, while the zip code with the lowest median tax bill is also 39756, reflecting the same value.
Average Prairie Assessed Value
$40,530
Average Chickasaw County Assessed Value
$44,230
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prairie, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39756 | $8,425 | $19,695 | $40,530 | $55,432 | $77,890 |
Source: Ownwell
Property Tax Bills Across Prairie, Mississippi
In Prairie, located in Chickasaw County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Prairie is $40,530. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $177 and the 75th percentile reaching $612. For those at the higher end, the 90th percentile tax bill is $885. These figures highlight how property taxes can impact homeowners differently depending on their property's assessed value. The tax rate in Prairie is a crucial factor in determining the final tax bill. Although the specific rate isn't provided, it's essential to note that the national median property tax rate is 0.99%. This comparison can help homeowners understand how their local tax burden stacks up against the national average. Understanding these factors is vital for homeowners to anticipate their annual property tax expenses and plan their finances accordingly.
Average Prairie Tax Bill
$363
Average Chickasaw County Tax Bill
$423
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Prairie, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39756 | $106 | $177 | $363 | $612 | $885 |
Source: Ownwell