Ridgeland, Mississippi Property Taxes
The median property tax rate in Ridgeland, MS, is 0.92%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Ridgeland at $151,920, the typical annual property tax bill amounts to $1,592, falling below the national median of $2,690. Property taxes in Ridgeland 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 Ridgeland'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 Ridgeland or another part of Madison County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ridgeland, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,398
Ownwell’s Ridgeland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgeland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgeland 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 Ridgeland, Mississippi
Property taxes in Ridgeland, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgeland is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Ridgeland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgeland 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 Ridgeland's effective property tax rate to other regions in Mississippi and the national median. For comparison, the zip code 39157 has both the highest and lowest median property tax rate at 0.92%. Understanding how these areas compare with Ridgeland provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgeland Tax Rate
0.92%
Average Madison County Tax Rate
0.96%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgeland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39157 | 0.58% | 0.77% | 0.92% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Ridgeland, Mississippi
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Ridgeland, 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 Madison 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 Ridgeland, 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 Ridgeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,592, notably in the 39157 zip code.
Average Ridgeland Assessed Value
$151,920
Average Madison County Assessed Value
$167,330
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ridgeland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39157 | $76,520 | $103,260 | $151,920 | $262,250 | $447,590 |
Source: Ownwell
Property Tax Bills Across Ridgeland, Mississippi
In Ridgeland, Madison County, MS, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, home improvements, and neighborhood amenities can influence the assessed value. For instance, a home with a median price of $151,920 might see a tax bill ranging from $1,001 at the 25th percentile to $4,687 at the 90th percentile. This variability in tax bills means that homeowners can experience significantly different financial impacts based on their property's assessed value and the specific tax rates in their area. The highest median tax bill in Ridgeland's 39157 zip code is $1,592, which is above the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Ridgeland Tax Bill
$1,592
Average Madison County Tax Bill
$1,681
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgeland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39157 | $611 | $1,001 | $1,592 | $2,701 | $4,687 |
Source: Ownwell