Newhebron, Mississippi Property Taxes
The median property tax rate in New Hebron, MS is 1.28%, slightly below the Mississippi state median of 1.31% but still higher than the national median of 0.99%. With a median home value of $52,445 in New Hebron, the typical annual property tax bill amounts to $624, which is significantly lower than the national median of $2,690. Property taxes in New Hebron are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding New Hebron's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of New Hebron or another part of Jefferson Davis County, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Newhebron, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$671
Ownwell’s New Hebron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Hebron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Hebron 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 Newhebron, Mississippi
Property taxes in New Hebron, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Hebron is 1.28%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Hebron set these rates annually, and they can vary across different neighborhoods. Each year, New Hebron 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 New Hebron's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39140 has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with New Hebron provides valuable insights into the varying tax landscape across Jefferson Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newhebron Tax Rate
1.28%
Average Jefferson Davis County Tax Rate
1.48%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newhebron, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39140 | 0.36% | 0.97% | 1.28% | 2.06% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Newhebron, Mississippi
In Newhebron, 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 Jefferson Davis 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 Newhebron, 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 Newhebron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jefferson Davis County, the highest median tax bill is $624 in the 39140 zip code, which is also the lowest median tax bill in the area.
Average Newhebron Assessed Value
$52,445
Average Jefferson Davis County Assessed Value
$51,960
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newhebron, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39140 | $14,085 | $28,905 | $52,445 | $83,402 | $131,680 |
Source: Ownwell
Property Tax Bills Across Newhebron, Mississippi
Property tax bills in New Hebron, located in Jefferson Davis County, MS, are calculated based on the assessed value of a property. This assessed value is typically a percentage of the property's market value. For instance, the median home price in New Hebron is $52,445. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in New Hebron experience a range of property tax bills. The 25th percentile tax bill is $307, while the 75th percentile reaches $1,219, and the 90th percentile can be as high as $2,275. Comparatively, the national median property tax rate is 0.99%, making New Hebron's property taxes relatively affordable. This affordability can significantly impact homeowners by reducing the overall cost of property ownership, making it easier for residents to manage their financial obligations.
Average Newhebron Tax Bill
$624
Average Jefferson Davis County Tax Bill
$654
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Newhebron, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39140 | $146 | $307 | $624 | $1,219 | $2,275 |
Source: Ownwell