Nettleton, Mississippi Property Taxes
The median property tax rate in Nettleton, MS is 1.05%, 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 $54,200 in Nettleton, the typical annual property tax bill amounts to $610, which is significantly below the national median of $2,690. Property taxes in Nettleton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nettleton'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 Nettleton 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
Nettleton, 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 Nettleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nettleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nettleton 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 Nettleton, Mississippi
Property taxes in Nettleton, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nettleton is 1.05%, higher than the U.S. national median of 0.99%. Local government entities within Nettleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nettleton 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. For comparison, the zip code 38858 has both the highest and lowest median property tax rate of 1.05%. Understanding how these cities compare with Nettleton 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 Nettleton Tax Rate
1.05%
Average Itawamba County Tax Rate
1.04%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nettleton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38858 | 0.51% | 0.89% | 1.05% | 1.94% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Nettleton, Mississippi
In Nettleton, 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 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 Nettleton, 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 Nettleton 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 $610.00 in the 38858 zip code, while the lowest is also $610.00 in the same zip code.
Average Nettleton Assessed Value
$54,200
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 Nettleton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38858 | $11,070 | $29,365 | $54,200 | $81,790 | $120,530 |
Source: Ownwell
Property Tax Bills Across Nettleton, Mississippi
In Nettleton, located in Itawamba County, MS, property tax bills are calculated based on the assessed value of a home. This value is typically a percentage of the property's market value. For instance, with a median home price of $54,200, the assessed value would be a fraction of this amount. The local tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, improvements made, and any applicable exemptions. In Nettleton, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $269, while at the 75th percentile, the tax bill can rise to $983. For those at the 90th percentile, it can reach $1,554. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Nettleton's property taxes can be relatively lower, making it an attractive location for budget-conscious homeowners.
Average Nettleton Tax Bill
$610
Average Itawamba County Tax Bill
$669
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Nettleton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38858 | $149 | $269 | $610 | $983 | $1,554 |
Source: Ownwell