Glen, Mississippi Property Taxes
The median property tax rate in Glen, MS is 0.70%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Glen, the typical annual property tax bill is $480, well below the national median of $2,690. Property taxes in Glen are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Glen'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 Glen or another part of Tishomingo County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glen, 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 Glen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen 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 Glen, Mississippi
Property taxes in Glen, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Glen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen 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 Glen's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38846 zip code has the highest median property tax rate of 0.70%, while the 38846 zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Glen provides valuable insights into the varying tax landscape across Tishomingo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glen Tax Rate
0.70%
Average Tishomingo County Tax Rate
0.89%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38846 | 0.25% | 0.61% | 0.70% | 0.96% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Glen, Mississippi
In Glen, 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 Tishomingo 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. 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 Glen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Glen, the zip code with the highest median tax bill is 38846, with a tax bill of $480, while the lowest median tax bill is also $480 in the same zip code.
Average Glen Assessed Value
$66,555
Average Tishomingo County Assessed Value
$60,500
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38846 | $27,866 | $40,172 | $66,555 | $99,905 | $140,310 |
Source: Ownwell
Property Tax Bills Across Glen, Mississippi
In Glen, located in Tishomingo County, MS, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property. Homeowners in Glen see a range of property tax bills, with the 25th percentile at $246 and the 75th percentile at $828. The 90th percentile tax bill can reach up to $1,425, highlighting the variability based on property values and tax rates. The median home price in Glen is $66,555, which is relatively low compared to national figures. This lower home price contributes to more affordable property tax bills for residents. The highest and lowest median tax bills in the area are both $480, found in the 38846 zip code, indicating some consistency in tax rates within specific areas of Tishomingo County. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Glen Tax Bill
$480
Average Tishomingo County Tax Bill
$531
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38846 | $146 | $246 | $480 | $828 | $1,425 |
Source: Ownwell