Swiftown, Mississippi Property Taxes
The median property tax rate in Swiftown, Mississippi is 1.82%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value in Swiftown, the typical annual property tax bill reaches $534, which is well below the national median of $2,690. Property taxes in Swiftown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Swiftown'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 Swiftown 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
Swiftown, 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 Swiftown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swiftown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swiftown 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 Swiftown, Mississippi
Property taxes in Swiftown, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swiftown is 1.82%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Swiftown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swiftown 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 Swiftown's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38959 zip code has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Swiftown 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 Swiftown Tax Rate
1.82%
Average Leflore County Tax Rate
1.83%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swiftown, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38959 | 0.81% | 1.18% | 1.82% | 1.83% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Swiftown, Mississippi
In Swiftown, 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 Swiftown, 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 Swiftown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Swiftown's median home price is $45,494, with tax bills varying widely. The 25th percentile tax bill is $282, while the 75th percentile reaches $1,050, and the 90th percentile hits $2,583. The highest and lowest median tax bill is $534 in zip code 38959.
Average Swiftown Assessed Value
$45,494
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 Swiftown, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38959 | $9,106 | $16,826 | $45,494 | $104,904 | $165,686 |
Source: Ownwell
Property Tax Bills Across Swiftown, Mississippi
In Swiftown, Leflore County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is typically a percentage of the property's market value. Homeowners' tax bills are influenced by this assessed value and the local tax rate. In Swiftown, the median home price is $45,494, and the property tax rate is lower than the national median of 0.99%. For instance, homeowners in the 25th percentile pay around $282 annually, while those in the 75th percentile face bills closer to $1,050. At the higher end, the 90th percentile tax bill can reach up to $2,583. These figures highlight the variance in property tax bills within the region. The highest and lowest median tax bills both stand at $534 in the zip code 38959. Property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby playing a crucial role in community development and quality of life.
Average Swiftown Tax Bill
$534
Average Leflore County Tax Bill
$611
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Swiftown, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38959 | $114 | $282 | $534 | $1,050 | $2,583 |
Source: Ownwell