Enterprise, Mississippi Property Taxes
The median property tax rate in Enterprise, MS is 1.10%, slightly above the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $49,840 in Enterprise, the typical annual property tax bill amounts to $525, which is significantly less than the national median of $2,690. Property taxes in Enterprise are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Enterprise'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 Enterprise 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
Enterprise, 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 Enterprise Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Enterprise with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Enterprise 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 Enterprise, Mississippi
Property taxes in Enterprise, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Enterprise is 1.10%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Enterprise set these rates annually, and they can vary significantly across different neighborhoods. Each year, Enterprise 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 Enterprise's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39330 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Enterprise provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Enterprise Tax Rate
1.10%
Average Newton County Tax Rate
1.13%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Enterprise, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39330 | 0.49% | 0.82% | 1.10% | 1.78% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Enterprise, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Enterprise, 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 Newton 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 Enterprise, 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. For instance, the median home price in Enterprise is $49,840, with tax bills ranging from $389 at the 25th percentile to $2,329 at the 90th percentile. The zip code 39330 has both the highest and lowest median tax bill of $525. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Enterprise Assessed Value
$49,840
Average Newton County Assessed Value
$57,610
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Enterprise, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39330 | $18,536 | $22,030 | $49,840 | $95,380 | $203,490 |
Source: Ownwell
Property Tax Bills Across Enterprise, Mississippi
In Enterprise, located in Newton County, MS, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Enterprise can expect to pay property taxes that are influenced by factors such as the property's location, size, and any applicable exemptions. The median home price in Enterprise is $49,840, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $389, while the 75th percentile tax bill is $1,422. At the 90th percentile, homeowners might see tax bills as high as $2,329. These variations illustrate how different factors can impact the final tax amount. Compared to the national median property tax rate of 0.99%, Enterprise offers relatively affordable property taxes, which can be beneficial for homeowners looking to manage their expenses. Understanding these elements can help homeowners better anticipate their annual property tax obligations.
Average Enterprise Tax Bill
$525
Average Newton County Tax Bill
$665
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Enterprise, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39330 | $215 | $389 | $525 | $1,422 | $2,329 |
Source: Ownwell