Pearl, Mississippi Property Taxes
The median property tax rate in Pearl, MS is 0.95%, slightly below the national median of 0.99% and significantly lower than the Mississippi state median of 1.31%. With the median home value in Pearl at $89,010, the typical annual property tax bill is $967, well below the national median of $2,690. Property taxes in Pearl are calculated based on the tax assessed value, which often falls below market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pearl'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 Pearl 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
Pearl, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$846
Ownwell’s Pearl Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Pearl with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pearl 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 Pearl, Mississippi
Property taxes in Pearl, Mississippi, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Pearl is 0.95%, which is lower than the U.S. national median of 0.99%. Local government entities within Pearl set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pearl 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 Pearl's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39208 zip code has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Pearl provides valuable insights into the varying tax landscape across Rankin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pearl Tax Rate
0.95%
Average Rankin County Tax Rate
0.91%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pearl, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39208 | 0.41% | 0.77% | 0.95% | 1.46% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Pearl, Mississippi
In Pearl, 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 Rankin 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 Pearl, 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. The median home price in Pearl is $89,010, with tax bills ranging from $549 at the 25th percentile to $2,083 at the 90th percentile. The highest and lowest median tax bills are both $967 in the 39208 zip code. 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 Pearl Assessed Value
$89,010
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 Pearl, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39208 | $42,948 | $59,952 | $89,010 | $143,262 | $192,280 |
Source: Ownwell
Property Tax Bills Across Pearl, Mississippi
Property tax bills in Pearl, located in Rankin County, Mississippi, are calculated based on the assessed value of the property, which is a percentage of its market value. The median home price in Pearl is $89,010. The tax rate is applied to the assessed value to determine the tax bill. Factors such as property size, location, and condition can influence the assessed value. For homeowners in Pearl, the 25th percentile tax bill is $549, while the 75th percentile reaches $1,512. At the 90th percentile, tax bills can be as high as $2,083. The highest median tax bill recorded in the area is $967, which is the same for the lowest median tax bill, indicating a consistent median tax bill across different zip codes within Pearl. Compared to the national median property tax rate of 0.99%, Pearl's property tax rates are relatively moderate. Understanding these factors helps homeowners anticipate their annual expenses and manage their finances more effectively.
Average Pearl Tax Bill
$967
Average Rankin County Tax Bill
$1,263
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Pearl, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39208 | $308 | $549 | $967 | $1,512 | $2,083 |
Source: Ownwell