Pickens, Mississippi Property Taxes
The median property tax rate in Pickens, MS is 1.73%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Pickens at $35,738, the typical annual property tax bill reaches $551, which is below the national median of $2,690. Property taxes in Pickens are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pickens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Pickens 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
Pickens, 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 Pickens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pickens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pickens 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 Pickens, Mississippi
Property taxes in Pickens, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pickens is 1.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pickens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pickens 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 Pickens' effective property tax rate to other areas in Holmes County and the national median. For comparison, the zip code 39146 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these areas compare with Pickens provides valuable insights into the varying tax landscape across Holmes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pickens Tax Rate
1.73%
Average Holmes County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pickens, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39146 | 0.93% | 1.24% | 1.73% | 2.16% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Pickens, Mississippi
In Pickens, 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 Holmes 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 Pickens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Pickens is $551 in zip code 39146, which is also the lowest median tax bill in the area.
Average Pickens Assessed Value
$35,738
Average Holmes County Assessed Value
$35,335
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pickens, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39146 | $7,472 | $20,320 | $35,738 | $57,437 | $92,955 |
Source: Ownwell
Property Tax Bills Across Pickens, Mississippi
In Pickens, MS, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $35,738, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied by Holmes County. Factors such as property location, home improvements, and local government budgets play a significant role in determining the assessed value. For homeowners in Pickens, the property tax burden can vary widely. The 25th percentile tax bill is $320, while the 75th percentile reaches $873, and the 90th percentile can go as high as $1,303. This variability highlights how individual circumstances and property characteristics can significantly affect tax obligations. Compared to the national median property tax rate of 0.99%, Pickens residents experience a different tax landscape, which can impact their financial planning and homeownership costs.
Average Pickens Tax Bill
$551
Average Holmes County Tax Bill
$549
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Pickens, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39146 | $126 | $320 | $551 | $873 | $1,303 |
Source: Ownwell