Learned, Mississippi Property Taxes
The median property tax rate in Learned, MS is 1.24%, 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 Learned at $54,075, the typical annual property tax bill is $559, significantly below the national median of $2,690. Property taxes in Learned are calculated based on the assessed value, often lower than market value due to exemptions like those for primary residences and agricultural properties. By understanding Learned's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're located in the heart of Learned or another part of the city, a thorough grasp of the local property tax system is invaluable for managing expenses and maximizing investment returns.
Last Updated June 14, 2024
Learned, 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 Learned Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Learned with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Learned 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 Learned, Mississippi
Property taxes in Learned, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Learned is 0.79%, significantly lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Learned set these rates annually, and they can vary significantly across different neighborhoods. Each year, Learned 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 Learned's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39154 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Learned provides valuable insights into the varying tax landscape across Hinds County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Learned Tax Rate
1.24%
Average Hinds County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Learned, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39154 | 0.59% | 0.82% | 1.24% | 1.66% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Learned, Mississippi
In Learned, 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 Hinds 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 Learned, 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 Learned helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $559, specifically in zip code 39154.
Average Learned Assessed Value
$54,075
Average Hinds County Assessed Value
$63,595
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Learned, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39154 | $27,712 | $36,055 | $54,075 | $79,618 | $101,501 |
Source: Ownwell
Property Tax Bills Across Learned, Mississippi
In Learned, located in Hinds County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by the local tax assessor. Factors such as the home's size, location, and condition can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Learned, the median home price is $54,075. Property tax bills can vary significantly, with the 25th percentile at $484 and the 75th percentile at $628. The 90th percentile reaches up to $638. These figures highlight the range of taxes homeowners might expect to pay, depending on their property’s assessed value and specific characteristics. Compared to the national median property tax rate of 0.99%, the property tax rates in Learned offer a relatively affordable option for homeowners, making it an attractive location for those looking to manage their property tax expenses effectively.
Average Learned Tax Bill
$559
Average Hinds County Tax Bill
$1,076
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Learned, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39154 | $464 | $484 | $559 | $628 | $638 |
Source: Ownwell