Sarah, Mississippi Property Taxes
The median property tax rate in SARAH, MS is 1.17%, which is higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in SARAH at $71,202, the typical annual property tax bill amounts to $758, which is significantly below the national median of $2,690. Property taxes in SARAH 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 SARAH's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of SARAH or another part of Tate County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sarah, 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 SARAH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SARAH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SARAH 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 Sarah, Mississippi
Property taxes in SARAH, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in SARAH is 1.17%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within SARAH set these rates annually, and they can vary significantly across different neighborhoods. Each year, SARAH 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 SARAH's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38665 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these areas compare with SARAH provides valuable insights into the varying tax landscape across Tate County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sarah Tax Rate
1.17%
Average Tate County Tax Rate
1.33%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sarah, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38665 | 0.87% | 0.94% | 1.17% | 1.51% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Sarah, Mississippi
In SARAH, 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 Tate 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 SARAH, 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 SARAH is $71,202, with tax bills ranging from $432 at the 25th percentile to $1,819 at the 90th percentile. The highest and lowest median tax bills are both $758, found in zip code 38665. 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 Sarah Assessed Value
$71,202
Average Tate County Assessed Value
$82,683
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sarah, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38665 | $20,626 | $42,185 | $71,202 | $109,391 | $160,234 |
Source: Ownwell
Property Tax Bills Across Sarah, Mississippi
In SARAH, located in Tate County, MS, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The county's property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the median home price, which stands at $71,202 in SARAH. For homeowners, this means that their tax bills can vary significantly. At the 25th percentile, the tax bill is approximately $432, whereas at the 75th percentile, it reaches around $1,196. For those at the 90th percentile, the tax bill can be as high as $1,819. The highest median tax bill in the area is $758, which is considerably lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make SARAH an attractive place for homeowners looking for affordable property taxes.
Average Sarah Tax Bill
$758
Average Tate County Tax Bill
$994
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Sarah, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38665 | $237 | $432 | $758 | $1,196 | $1,819 |
Source: Ownwell