Scobey, Mississippi Property Taxes
The median property tax rate in Scobey, MS is 1.06%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $47,212 in Scobey, the typical annual property tax bill amounts to $447, which is significantly below the national median of $2,690. Property taxes in Scobey are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Scobey'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 Scobey or another part of Tallahatchie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Scobey, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$500
Ownwell’s Scobey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scobey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scobey 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 Scobey, Mississippi
Property taxes in Scobey, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scobey is 1.06%, notably higher than the U.S. national median of 0.99%. Local government entities within Scobey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scobey 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 Scobey's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 38953 has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these areas compare with Scobey provides valuable insights into the varying tax landscape across Tallahatchie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scobey Tax Rate
1.06%
Average Tallahatchie County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scobey, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38953 | 0.37% | 0.84% | 1.06% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Scobey, Mississippi
In Scobey, 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 Tallahatchie 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 Scobey, 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 Scobey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Tallahatchie County, the highest and lowest median tax bills are both $447, found in the zip code 38953. With a median home price of $47,212, property taxes can range significantly, with the 25th percentile tax bill at $226 and the 90th percentile reaching $1,280.
Average Scobey Assessed Value
$47,212
Average Tallahatchie County Assessed Value
$42,376
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Scobey, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38953 | $12,267 | $23,322 | $47,212 | $72,190 | $109,604 |
Source: Ownwell
Property Tax Bills Across Scobey, Mississippi
In Scobey, located in Tallahatchie County, MS, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, if the median home price in Scobey is $47,212, the assessed value would be a fraction of this amount, determined by local assessment rates. The tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. In Scobey, the property tax bill for the 25th percentile is $226, while the 75th percentile sees a tax bill of $768. At the 90th percentile, homeowners might pay up to $1,280. These figures highlight the variation in property tax bills within the region. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual household expenses. Compared to the national median property tax rate of 0.99%, Scobey's rates reflect the local economic conditions and property values.
Average Scobey Tax Bill
$447
Average Tallahatchie County Tax Bill
$479
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Scobey, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38953 | $123 | $226 | $447 | $768 | $1,280 |
Source: Ownwell