Rienzi, Mississippi Property Taxes
The median property tax rate in Rienzi, MS is 0.91%, slightly lower than the national median of 0.99% and significantly below the Mississippi state median of 1.31%. With the median home value in Rienzi at $46,455, the typical annual property tax bill comes to $481, well under the national median of $2,690. Property taxes in Rienzi 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 Rienzi'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 Rienzi or another part of Alcorn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rienzi, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$423
Ownwell’s Rienzi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rienzi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rienzi 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 Rienzi, Mississippi
Property taxes in Rienzi, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rienzi is 0.91%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Rienzi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rienzi 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 Rienzi's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38865 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Rienzi provides valuable insights into the varying tax landscape across Alcorn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rienzi Tax Rate
0.91%
Average Alcorn County Tax Rate
0.82%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rienzi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38865 | 0.37% | 0.76% | 0.91% | 1.74% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Rienzi, Mississippi
In Rienzi, 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 Alcorn 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 Rienzi, 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 Rienzi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rienzi is $481, found in the zip code 38865, which is also the lowest median tax bill for the area.
Average Rienzi Assessed Value
$46,455
Average Alcorn County Assessed Value
$54,430
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rienzi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38865 | $7,341 | $20,765 | $46,455 | $79,712 | $121,420 |
Source: Ownwell
Property Tax Bills Across Rienzi, Mississippi
In Rienzi, located in Alcorn County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Rienzi is $46,455. Tax rates are applied to this assessed value to determine the tax bill. Homeowners in Rienzi can expect varying tax bills, with the 25th percentile at $222 and the 75th percentile at $854, indicating a range of tax burdens depending on property values and applicable exemptions. Several factors influence the final tax bill, including the home's assessed value, local tax rates, and any available exemptions or deductions. For instance, the highest median tax bill in the area is $481, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax rate can be advantageous for homeowners, making property ownership more affordable compared to other regions. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Rienzi Tax Bill
$481
Average Alcorn County Tax Bill
$422
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Rienzi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38865 | $97 | $222 | $481 | $854 | $1,456 |
Source: Ownwell