Rankin County Property Taxes
The median property tax rate in Rankin County is 0.91%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $136,735 in Rankin County, the typical annual property tax bill is approximately $1,263, significantly below the national median of $2,690. Property taxes in Rankin County are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Rankin County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you reside in Brandon or another part of Rankin County, gaining comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rankin County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,244
Ownwell’s Rankin County Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rankin County with just two data points. By entering your property's estimated assessed value, our calculator uses the median tax rate in Rankin County to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For a more detailed view, including city-specific trends, scroll down to access local informational pages. Your property's assessed value is the value assigned by the county for property tax purposes, taking into account any exemptions you may qualify for.
Property Tax Rates Across Rankin County, Mississippi
Property taxes in Rankin County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Rankin County is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Rankin County set these rates annually, and they can vary significantly between different areas within the county. Each year, Rankin County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Rankin County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of Jackson has one of the higher property tax rates in Mississippi at 1.52%, while the city of Star boasts one of the lowest at 0.54%. Analyzing how Rankin County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Rankin County Tax Rate
0.91%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rankin County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brandon | 0.47% | 0.73% | 0.90% | 1.15% | 1.59% |
| Braxton | 0.21% | 0.51% | 0.71% | 1.03% | 1.46% |
| Florence | 0.34% | 0.58% | 0.85% | 1.13% | 1.49% |
| Flowood | 0.53% | 0.87% | 1.01% | 1.13% | 1.74% |
| Jackson | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
| Lena | 0.48% | 0.60% | 0.86% | 1.46% | 1.52% |
| Mendenhall | 0.31% | 0.57% | 0.82% | 1.46% | 1.46% |
| Morton | 0.32% | 0.54% | 0.68% | 0.93% | 1.46% |
| Pearl | 0.41% | 0.77% | 0.95% | 1.46% | 1.90% |
| Pelahatchie | 0.40% | 0.57% | 0.84% | 1.46% | 1.83% |
| Puckett | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
| Richland | 0.43% | 0.74% | 0.93% | 1.73% | 1.73% |
| Sandhill | 0.97% | 1.06% | 1.21% | 1.37% | 1.46% |
| Star | 0.52% | 0.53% | 0.54% | 1.01% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Rankin County, Mississippi
In Rankin County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Rankin County Appraisal District. The assessed value, however, 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. Assessment notices in Rankin County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, the median home price in Rankin County is $136,735, with tax bills ranging from $638 at the 25th percentile to $2,967 at the 90th percentile. Flowood has the highest median tax bill at $2,074, while Jackson has the lowest at $159. Being aware of these valuation processes in Rankin County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Rankin County, Mississippi
Source: Ownwell
$10,450
$103,603
$196,755
Average Rankin County Assessed Value
$136,735
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rankin County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brandon | $61,334 | $109,795 | $160,310 | $228,355 | $307,028 |
| Braxton | $23,038 | $39,275 | $82,920 | $146,580 | $228,292 |
| Florence | $22,042 | $51,582 | $101,860 | $156,120 | $231,777 |
| Flowood | $103,337 | $138,925 | $196,755 | $307,932 | $462,799 |
| Jackson | $10,450 | $10,450 | $10,450 | $10,450 | $10,450 |
| Lena | $17,448 | $29,500 | $60,595 | $121,662 | $268,207 |
| Mendenhall | $24,620 | $43,268 | $85,620 | $142,252 | $228,359 |
| Morton | $20,012 | $37,835 | $67,510 | $110,885 | $213,752 |
| Pearl | $42,948 | $59,952 | $89,010 | $143,262 | $192,280 |
| Pelahatchie | $22,601 | $39,232 | $65,680 | $126,595 | $223,274 |
| Puckett | $112,730 | $112,730 | $112,730 | $112,730 | $112,730 |
| Richland | $16,297 | $47,435 | $89,340 | $138,928 | $196,638 |
| Sandhill | $17,935 | $19,338 | $21,675 | $24,012 | $25,415 |
| Star | $32,555 | $41,375 | $54,390 | $85,270 | $117,675 |
Source: Ownwell
Property Tax Bills Across Rankin County, Mississippi
In Rankin County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Rankin County is $136,735. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile bill at $638 and the 75th percentile bill at $2,054. For those at the higher end, the 90th percentile tax bill reaches $2,967. Several factors influence these tax bills, including the property's location within the county. For instance, the highest median tax bill is found in Flowood at $2,074, while Jackson has the lowest at $159. These variations can affect homeowners differently depending on their property's market value and its assessed value. Understanding these factors can help homeowners anticipate their property tax obligations, which are crucial for budgeting and financial planning.
Average Rankin County Tax Bill
$1,263
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Rankin County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brandon | $405 | $864 | $1,499 | $2,359 | $3,201 |
| Braxton | $133 | $262 | $516 | $1,202 | $1,983 |
| Florence | $168 | $364 | $814 | $1,519 | $2,317 |
| Flowood | $632 | $1,226 | $2,074 | $3,138 | $4,992 |
| Jackson | $159 | $159 | $159 | $159 | $159 |
| Lena | $141 | $257 | $501 | $1,308 | $2,409 |
| Mendenhall | $135 | $304 | $634 | $1,332 | $2,214 |
| Morton | $147 | $258 | $484 | $884 | $1,859 |
| Pearl | $308 | $549 | $967 | $1,512 | $2,083 |
| Pelahatchie | $175 | $330 | $611 | $1,155 | $2,046 |
| Puckett | $862 | $862 | $862 | $862 | $862 |
| Richland | $176 | $394 | $869 | $1,347 | $2,151 |
| Sandhill | $242 | $244 | $249 | $254 | $256 |
| Star | $356 | $497 | $733 | $1,063 | $1,262 |
Source: Ownwell