Mclain, Mississippi Property Taxes
The median property tax rate in McLain, MS is 1.94%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in McLain at $30,600, the typical annual property tax bill amounts to $214, which is below the national median of $2,690. Property taxes in McLain 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 land. Understanding McLain'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 McLain or another part of Greene County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mclain, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$594
Ownwell’s McLain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McLain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McLain 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 Mclain, Mississippi
Property taxes in McLain, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McLain is 1.94%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within McLain set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLain 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 McLain's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39456 zip code has the highest median property tax rate of 1.94%, while the same zip code also has the lowest median tax rate of 1.94%. Understanding how these cities compare with McLain provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mclain Tax Rate
1.94%
Average Greene County Tax Rate
1.91%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mclain, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39456 | 1.15% | 1.39% | 1.94% | 2.34% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Mclain, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in McLain, Mississippi. 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 Greene 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 McLain, 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 McLain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in McLain are both recorded at $214.00 in the 39456 zip code.
Average Mclain Assessed Value
$30,600
Average Greene County Assessed Value
$13,790
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mclain, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39456 | $1,553 | $5,362 | $30,600 | $60,670 | $81,832 |
Source: Ownwell
Property Tax Bills Across Mclain, Mississippi
Property tax bills in McLain, located in Greene County, MS, are calculated based on the assessed value of a property. The assessed value is a percentage of the market value, which is determined by the local tax assessor. Various factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In McLain, the median home price is $30,600, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $73, while the 75th percentile tax bill reaches $986, and the 90th percentile tax bill can go up to $1,631. These variations highlight how different factors can impact the final tax amount. For homeowners, understanding these factors is crucial as they directly affect the financial responsibility tied to property ownership. Comparing to the national median property tax rate of 0.99%, McLain offers a relatively affordable property tax environment.
Average Mclain Tax Bill
$214
Average Greene County Tax Bill
$191
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mclain, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39456 | $24 | $73 | $214 | $986 | $1,631 |
Source: Ownwell