Batesville, Mississippi Property Taxes
The median property tax rate in Batesville, MS is 1.49%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Batesville, the typical annual property tax bill reaches $406, which is significantly lower than the national median of $2,690. Property taxes in Batesville 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 Batesville'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 Batesville 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
Batesville, 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 Batesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Batesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Batesville 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 Batesville, Mississippi
Property taxes in Batesville, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Batesville is 1.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Batesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Batesville 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 Batesville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38606 zip code has the highest median property tax rate of 1.49%, while the 38606 zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Batesville provides valuable insights into the varying tax landscape across Panola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Batesville Tax Rate
1.49%
Average Lafayette County Tax Rate
1.26%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Batesville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38606 | 0.63% | 0.66% | 1.49% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Batesville, Mississippi
In Batesville, 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 local 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 Batesville, 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 Batesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $38,000, with the tax bill at the 25th percentile being $185 and at the 75th percentile being $731. The highest and lowest median tax bills are both $406 in the zip code 38606.
Average Batesville Assessed Value
$38,000
Average Lafayette County Assessed Value
$152,030
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Batesville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38606 | $11,294 | $17,850 | $38,000 | $67,835 | $111,168 |
Source: Ownwell
Property Tax Bills Across Batesville, Mississippi
In Batesville, located in Lafayette County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the market value of the property. Homeowners in Batesville face a median home price of $38,000. The property tax rate applied in this area influences the final tax bill, which can vary significantly. For example, at the 25th percentile, homeowners might see a tax bill of around $185, while those at the 75th percentile could face a bill of approximately $731. At the higher end, the 90th percentile tax bill can reach up to $1,442. These figures illustrate the range of property tax burdens that homeowners might experience, depending on the value of their property and the specific rates applied. Compared to the national median property tax rate of 0.99%, Batesville’s property tax rates can be relatively modest, but they still represent a significant expense for homeowners, impacting their overall cost of living.
Average Batesville Tax Bill
$406
Average Lafayette County Tax Bill
$1,959
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Batesville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38606 | $113 | $185 | $406 | $731 | $1,442 |
Source: Ownwell