Mooreville, Mississippi Property Taxes
The median property tax rate in Mooreville, MS is 1.07%, which is higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Mooreville at $103,890, the typical annual property tax bill amounts to $1,208, which is below the national median of $2,690. Property taxes in Mooreville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mooreville’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 Mooreville 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
Mooreville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,112
Ownwell’s Mooreville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mooreville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooreville 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 Mooreville, Mississippi
Property taxes in Mooreville, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooreville is 1.07%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Mooreville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooreville 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 Mooreville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38857 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these areas compare with Mooreville provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooreville Tax Rate
1.07%
Average Lee County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooreville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38857 | 1.07% | 1.07% | 1.07% | 1.13% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Mooreville, Mississippi
In Mooreville, 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 Lee 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 Mooreville, 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 Mooreville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 38857 at $1,208, while the lowest is also 38857 at $1,208, reflecting a uniform tax assessment in the area.
Average Mooreville Assessed Value
$103,890
Average Lee County Assessed Value
$101,000
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooreville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38857 | $29,758 | $57,340 | $103,890 | $165,340 | $240,302 |
Source: Ownwell
Property Tax Bills Across Mooreville, Mississippi
In Mooreville, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. Homeowners in Mooreville, located in Lee County, MS, experience a range of property tax bills. For example, the median home price in the area is $103,890. Property tax bills can vary significantly, with the 25th percentile at $700 and the 75th percentile reaching $1,891. At the 90th percentile, homeowners might see tax bills as high as $2,698. The assessed value is influenced by factors such as the property's location, size, and condition. These factors are crucial in determining the final tax bill. Comparing this to the national median property tax rate of 0.99%, Mooreville's tax rates may seem more favorable or challenging depending on individual circumstances. Understanding these factors helps homeowners anticipate their annual tax obligations and plan accordingly, ensuring they are prepared for any financial impacts.
Average Mooreville Tax Bill
$1,208
Average Lee County Tax Bill
$1,408
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooreville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38857 | $404 | $700 | $1,208 | $1,891 | $2,698 |
Source: Ownwell