Gloster, Mississippi Property Taxes
The median property tax rate in Gloster, MS is 1.27%, which is higher than the national median of 0.99% but slightly below the Mississippi state median of 1.31%. With the median home value in Gloster at $15,813, the typical annual property tax bill amounts to $128, significantly lower than the national median of $2,690. Property taxes in Gloster are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Gloster'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 Gloster or another part of Amite County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gloster, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$201
Ownwell’s Gloster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gloster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gloster 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 Gloster, Mississippi
Property taxes in Gloster, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gloster is 0.72%, which is lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Gloster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gloster 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 Gloster's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39638 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Gloster provides valuable insights into the varying tax landscape across Amite County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gloster Tax Rate
1.27%
Average Amite County Tax Rate
1.28%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gloster, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39638 | 0.43% | 1.14% | 1.27% | 1.31% | 1.32% |
| 39645 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Gloster, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gloster, Mississippi. 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 Amite 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 Gloster, 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 Gloster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 39638 has the lowest median tax bill at $128.
Average Gloster Assessed Value
$15,813
Average Amite County Assessed Value
$18,096
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gloster, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39638 | $1,190 | $4,000 | $15,818 | $46,227 | $86,871 |
| 39645 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Gloster, Mississippi
In Gloster, located in Amite County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Gloster, the median home price is $15,813. Property tax bills can vary significantly, with the 25th percentile at $38 and the 75th percentile at $368. The 90th percentile tax bill can reach up to $752. These variations depend on factors such as property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Gloster's property taxes are relatively low. However, even modest tax bills can impact homeowners' budgets, making it essential for them to understand how their tax liabilities are calculated and to explore potential savings through appeals or exemptions.
Average Gloster Tax Bill
$128
Average Amite County Tax Bill
$159
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Gloster, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39638 | $10 | $38 | $128 | $368 | $753 |
| 39645 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell