Maben, Mississippi Property Taxes
The median property tax rate in Maben, MS is 0.84%, which is notably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Maben at $22,826, the typical annual property tax bill is approximately $360, significantly below the national median of $2,690. Property taxes in Maben are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Maben'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 Maben or another part of Clay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maben, 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 Maben Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maben with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maben 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 Maben, Mississippi
Property taxes in Maben, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maben is 0.84%, lower than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Maben set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maben 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 Maben's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39750 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these areas compare with Maben provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maben Tax Rate
0.84%
Average Clay County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maben, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39750 | 0.69% | 0.71% | 0.84% | 1.67% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Maben, Mississippi
In Maben, 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 Clay 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. In Maben, 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. For instance, the highest median tax bill in Maben is $360.00 in the 39750 zip code, which is also the lowest. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Maben Assessed Value
$22,826
Average Clay County Assessed Value
$45,801
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maben, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39750 | $10,922 | $15,232 | $22,826 | $48,303 | $75,889 |
Source: Ownwell
Property Tax Bills Across Maben, Mississippi
In Maben, MS, located in Clay County, property tax bills are calculated by assessing the market value of a property and then applying the local tax rate to this assessed value. The median home price in Maben is $22,826, and property tax rates are applied to this valuation to determine the annual tax bill. Factors such as the property's market value, any applicable exemptions, and the specific tax rate set by local authorities are considered in this calculation. For homeowners in Maben, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $232, while the 75th percentile tax bill is $577, and the 90th percentile tax bill reaches up to $816. These variations highlight how different property values and exemptions impact individual tax obligations. Compared to the national median property tax rate of 0.99%, Maben's tax bills are relatively modest, providing a more affordable option for homeowners. The highest and lowest median tax bills in the area are both $360, occurring in the 39750 zip code, indicating a consistent tax environment within this locality.
Average Maben Tax Bill
$360
Average Clay County Tax Bill
$835
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Maben, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39750 | $80 | $232 | $360 | $577 | $816 |
Source: Ownwell