Prentiss, Mississippi Property Taxes
The median property tax rate in Prentiss, MS is 1.87%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Prentiss, the typical annual property tax bill reaches $692, which is significantly lower than the national median of $2,690. Property taxes in Prentiss are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Prentiss'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 Prentiss 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
Prentiss, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$977
Ownwell’s Prentiss Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prentiss with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prentiss 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 Prentiss, Mississippi
Property taxes in Prentiss, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prentiss is 1.87%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Prentiss set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prentiss 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 39474 has both the highest and lowest median property tax rate of 1.87%. Understanding how these rates compare with Prentiss provides valuable insights into the varying tax landscape across Jefferson Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prentiss Tax Rate
1.87%
Average Jefferson Davis County Tax Rate
1.48%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prentiss, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39474 | 0.52% | 0.97% | 1.87% | 2.06% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across Prentiss, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Prentiss, 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 Jefferson Davis 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 Prentiss, 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 Prentiss helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jefferson Davis County, the median home price is $52,255. The tax bills vary, with the 25th percentile at $355 and the 75th percentile at $1,216. The highest and lowest median tax bills are both $692, found in zip code 39474.
Average Prentiss Assessed Value
$52,255
Average Jefferson Davis County Assessed Value
$51,960
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prentiss, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39474 | $13,072 | $28,968 | $52,255 | $81,902 | $122,122 |
Source: Ownwell
Property Tax Bills Across Prentiss, Mississippi
In Prentiss, located in Jefferson Davis County, MS, property tax bills are calculated based on the assessed value of a home. The assessment process evaluates the market value of the property, which is then multiplied by the assessment ratio set by the state. This assessed value is further multiplied by the local millage rate to determine the annual property tax bill. For homeowners in Prentiss, the median home price stands at $52,255. Property tax bills can vary significantly, with the 25th percentile at $355 and the 75th percentile reaching $1,216. The 90th percentile tax bill can go up to $1,864. The highest and lowest median tax bills in the area are both $692, indicating a relatively consistent tax burden within the zip code 39474. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding these factors can help homeowners anticipate their annual expenses and plan their finances accordingly.
Average Prentiss Tax Bill
$692
Average Jefferson Davis County Tax Bill
$654
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Prentiss, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39474 | $182 | $355 | $692 | $1,216 | $1,864 |
Source: Ownwell