Sardis, Mississippi Property Taxes
The median property tax rate in Sardis, MS is 1.35%, higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Sardis at $35,113, the typical annual property tax bill reaches $579, which is significantly lower than the national median of $2,690. Property taxes in Sardis are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sardis'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 Sardis 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
Sardis, 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 Sardis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sardis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sardis 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 Sardis, Mississippi
Property taxes in Sardis, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sardis is 0.81%, lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Sardis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sardis 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 Sardis' effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38666 zip code has the highest median property tax rate of 0.81%, while the 38666 zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Sardis 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 Sardis Tax Rate
1.35%
Average Panola County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sardis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38666 | 0.87% | 0.96% | 1.35% | 1.94% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Sardis, Mississippi
In Sardis, 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. 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 Sardis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Sardis is $579 in the 38666 zip code.
Average Sardis Assessed Value
$35,113
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 Sardis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38666 | $11,357 | $18,181 | $35,113 | $80,284 | $150,345 |
Source: Ownwell
Property Tax Bills Across Sardis, Mississippi
In Sardis, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. For homeowners in Panola County, the median home price is $35,113. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. Homeowners in Sardis can expect varying tax bills. For example, the 25th percentile tax bill is $266, while the 75th percentile reaches $1,191. At the 90th percentile, the tax bill can go up to $2,238. The highest median tax bill in the area is $579, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Sardis residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Sardis Tax Bill
$579
Average Panola County Tax Bill
$671
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Sardis, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38666 | $162 | $266 | $579 | $1,191 | $2,238 |
Source: Ownwell