Mendenhall, Mississippi Property Taxes
The median property tax rate in Mendenhall, MS is 0.72%, considerably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Mendenhall at $117,205, the typical annual property tax bill reaches $767, significantly below the national median of $2,690. Property taxes in Mendenhall are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mendenhall'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 Mendenhall 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
Mendenhall, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$844
Ownwell’s Mendenhall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mendenhall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mendenhall 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 Mendenhall, Mississippi
Property taxes in Mendenhall, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mendenhall is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Mendenhall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mendenhall 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 Mendenhall's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39114 zip code has the highest median property tax rate of 0.72%, while the 39114 zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Mendenhall provides valuable insights into the varying tax landscape across Smith County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mendenhall Tax Rate
0.72%
Average Smith County Tax Rate
0.83%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mendenhall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39114 | 0.51% | 0.64% | 0.72% | 1.17% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Mendenhall, Mississippi
In Mendenhall, 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 county's 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 Mendenhall, 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 Mendenhall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $767 in the 39114 zip code, while the lowest median tax bill is also $767 in the same zip code.
Average Mendenhall Assessed Value
$117,205
Average Smith County Assessed Value
$63,970
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mendenhall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39114 | $53,674 | $67,695 | $117,205 | $164,835 | $185,916 |
Source: Ownwell
Property Tax Bills Across Mendenhall, Mississippi
In Mendenhall, located in Smith County, MS, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in this area experience a range of tax bills, influenced by the assessed value of their properties and the applicable tax rate. For instance, the median home price in Mendenhall is $117,205. The property tax bills can vary significantly, with the 25th percentile paying around $605, while those in the 75th percentile see bills of approximately $1,163. At the higher end, the 90th percentile of homeowners face tax bills as high as $2,646. The highest and lowest median tax bills in the region are both $767, indicating a relatively stable tax environment within the zip code 39114. Compared to the national median property tax rate of 0.99%, Mendenhall homeowners may find their tax obligations to be competitive, which can impact their overall financial planning and homeownership costs.
Average Mendenhall Tax Bill
$767
Average Smith County Tax Bill
$565
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mendenhall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39114 | $427 | $605 | $767 | $1,163 | $2,646 |
Source: Ownwell