Minter City, Mississippi Property Taxes
The median property tax rate in Minter City, MS is 1.83%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Minter City at $75,048, the typical annual property tax bill reaches $836, which is below the national median of $2,690. Property taxes in Minter City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Minter City'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 Minter City or another part of Leflore County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Minter City, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.83%
Estimate Property Tax Bill
$1,373
Ownwell’s Minter City Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Minter City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Minter City to project your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more granular insights, you can scroll down to find localized information at the neighborhood level. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Minter City, Mississippi
Property taxes in Minter City, Mississippi, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Minter City is 1.83%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Minter City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minter City 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 Minter City's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 38944 has the highest median property tax rate of 1.83%, which is the same as the lowest median tax rate in the same zip code. Understanding how these areas compare with Minter City provides valuable insights into the varying tax landscape across Leflore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Minter City Tax Rate
1.83%
Average Leflore County Tax Rate
1.83%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minter City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38944 | 0.54% | 0.94% | 1.83% | 1.83% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Minter City, Mississippi
In Minter City, 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 Leflore 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 Minter City, 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 Minter City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Minter City is $75,048, with tax bills ranging from $340 at the 25th percentile to $4,110 at the 90th percentile. The zip code 38944 has the highest and lowest median tax bill, both at $836.
Property Tax Assessment Values Across Minter City, Mississippi
Source: Ownwell
$22,080
$223,757
$425,434
Average Minter City Assessed Value
$75,048
Average Leflore County Assessed Value
$41,840
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Minter City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38944 | $17,924 | $35,070 | $75,048 | $143,636 | $242,481 |
Source: Ownwell
Property Tax Bills Across Minter City, Mississippi
In Minter City, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the Leflore County tax assessor, who evaluates your property's market value and then applies an assessment ratio to arrive at the taxable value. This assessed value is then multiplied by the local property tax rate to calculate your annual tax bill. Several factors influence your tax bill, including your property's location, size, and condition. For instance, the median home price in Minter City is $75,048. Homeowners in this area can expect tax bills to vary widely, with the 25th percentile at $340 and the 75th percentile reaching $1,937. At the 90th percentile, tax bills can soar to $4,110. These property taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how your tax bill is determined can help you better manage your finances and plan for future expenses.
Average Minter City Tax Bill
$836
Average Leflore County Tax Bill
$611
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Minter City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38944 | $105 | $340 | $836 | $1,937 | $4,110 |
Source: Ownwell