Batesville, Mississippi Property Taxes
The median property tax rate in Batesville, MS is 1.37%, higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Batesville at $53,638, the typical annual property tax bill is $913, which is below the national median of $2,690. Property taxes in Batesville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural land. 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 Panola County, grasping 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
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$735
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Batesville is 1.37%, 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 both the highest and lowest median property tax rate of 1.37%. 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
1.37%
Average Panola County Tax Rate
1.34%
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 | 0.83% | 0.96% | 1.37% | 1.99% | 2.50% |
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 Panola 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 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 highest and lowest median tax bills in Batesville are both found in zip code 38606, with a median tax bill of $913.
Average Batesville Assessed Value
$53,638
Average Panola County Assessed Value
$42,358
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 | $11,236 | $20,773 | $53,638 | $123,248 | $190,735 |
Source: Ownwell
Property Tax Bills Across Batesville, Mississippi
In Batesville, located in Panola County, MS, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Various factors such as property size, location, and improvements contribute to the market value assessment. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. In Batesville, property tax bills can vary significantly. For instance, the tax bill for the 25th percentile is $305, while the 75th percentile sees bills around $1787. At the 90th percentile, homeowners might pay up to $2750. These property taxes fund essential local services like schools, infrastructure, and emergency services. Homeowners need to be aware of these costs as they can significantly impact annual expenses. Comparing to the national median property tax rate of 0.99%, Batesville's property tax bills reflect the local economic environment and property values.
Average Batesville Tax Bill
$913
Average Panola County Tax Bill
$671
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 | $149 | $305 | $913 | $1,787 | $2,750 |
Source: Ownwell