Golden, Mississippi Property Taxes
The median property tax rate in Golden, Mississippi is 1.01%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $54,985 in Golden, the typical annual property tax bill amounts to $580, which is well below the national median of $2,690. Property taxes in Golden are determined based on the assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Golden'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 Golden 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
Golden, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$555
Ownwell’s Golden Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Golden with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Golden to provide an accurate property tax bill estimate. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more localized trends, additional neighborhood-level information is available further down the page. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations and incorporates any applicable exemptions.
Property Tax Rates Across Golden, Mississippi
Property taxes in Golden, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Golden is 1.01%, which is higher than the U.S. national median of 0.99%. Local government entities within Golden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Golden 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 Golden's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38847 zip code has the highest median property tax rate of 1.01%, while also having the lowest median tax rate of 1.01%. Understanding how these cities compare with Golden provides valuable insights into the varying tax landscape across Itawamba County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Golden Tax Rate
1.01%
Average Itawamba County Tax Rate
1.04%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Golden, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38847 | 0.61% | 0.89% | 1.01% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Golden, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Golden, 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 Itawamba 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 Golden, 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 Golden 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 $580.00 in the 38847 zip code, while the lowest median tax bill is also $580.00 in the same zip code.
Average Golden Assessed Value
$54,985
Average Itawamba County Assessed Value
$62,360
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Golden, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38847 | $11,830 | $27,792 | $54,985 | $82,448 | $119,285 |
Source: Ownwell
Property Tax Bills Across Golden, Mississippi
In Golden, Itawamba County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $54,985, homeowners in Golden can expect tax bills that vary significantly. At the 25th percentile, the tax bill is around $285, while at the 75th percentile, it climbs to $946, and at the 90th percentile, it reaches approximately $1,513. Compared to the national median property tax rate of 0.99%, Golden's property tax rates can be quite variable, influenced by the assessed value and applicable exemptions. These tax bills impact homeowners by affecting their annual housing costs, potentially influencing decisions on homeownership and property investments. Understanding these factors can help homeowners better manage their financial planning and anticipate future expenses.
Average Golden Tax Bill
$580
Average Itawamba County Tax Bill
$669
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Golden, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38847 | $127 | $285 | $580 | $946 | $1,513 |
Source: Ownwell