Kilmichael, Mississippi Property Taxes
The median property tax rate in Kilmichael, MS is 1.54%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Kilmichael at $49,932, the typical annual property tax bill reaches $754, which is significantly lower than the national median of $2,690. Property taxes in Kilmichael are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Kilmichael'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 Kilmichael or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kilmichael, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$769
Ownwell’s Kilmichael Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Kilmichael. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Kilmichael to provide an accurate estimate of your property tax bill. This user-friendly tool helps you understand potential tax liabilities with ease. For those interested in more localized insights, more detailed neighborhood trends are available below. Your property's assessed value is determined by the county and is used for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Kilmichael, Mississippi
Property taxes in Kilmichael, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kilmichael is 1.54%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Kilmichael set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kilmichael 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 Kilmichael's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39747 zip code has both the highest and lowest median property tax rate of 1.54%. Understanding how these cities compare with Kilmichael provides valuable insights into the varying tax landscape across Attala County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kilmichael Tax Rate
1.54%
Average Attala County Tax Rate
1.02%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kilmichael, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39747 | 0.64% | 0.77% | 1.54% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Kilmichael, Mississippi
In Kilmichael, 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 Attala 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 Kilmichael, 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 Kilmichael helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is found in the 39747 zip code, amounting to $754.
Average Kilmichael Assessed Value
$49,932
Average Attala County Assessed Value
$55,740
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kilmichael, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39747 | $33,986 | $46,624 | $49,932 | $64,398 | $113,522 |
Source: Ownwell
Property Tax Bills Across Kilmichael, Mississippi
In Kilmichael, located in Attala County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county tax assessor. The assessed value is a percentage of the market value of the property. For instance, if the median home price is $49,932, the assessed value would be a fraction of this amount, subject to local assessment rates. Homeowners in Kilmichael can expect their property tax bills to vary significantly. The 25th percentile tax bill is $525, while the 75th percentile tax bill is $823, and the 90th percentile tax bill reaches $1,196. These figures reflect the range of property values and the corresponding tax obligations in the area. Compared to the national median property tax rate of 0.99%, Kilmichael's property tax rates may appear more favorable, offering some relief to homeowners. However, the exact impact on each household depends on the specific assessed value of their property. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Kilmichael Tax Bill
$754
Average Attala County Tax Bill
$625
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Kilmichael, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39747 | $450 | $525 | $754 | $823 | $1,196 |
Source: Ownwell