New Augusta, Mississippi Property Taxes
The median property tax rate in New Augusta, MS is 1.56%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in New Augusta at $37,565, the typical annual property tax bill reaches $383, which is below the national median of $2,690. Property taxes in New Augusta 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 New Augusta'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 New Augusta 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
New Augusta, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$586
Ownwell’s New Augusta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Augusta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Augusta 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 New Augusta, Mississippi
Property taxes in New Augusta, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Augusta is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within New Augusta set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Augusta 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. Understanding how these cities compare with New Augusta provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Augusta Tax Rate
1.56%
Average Perry County Tax Rate
1.56%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Augusta, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39462 | 0.64% | 0.98% | 1.56% | 2.09% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across New Augusta, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Augusta, 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 Perry County 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 New Augusta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $383 in zip code 39462, reflecting the localized nature of property tax assessments.
Average New Augusta Assessed Value
$37,565
Average Perry County Assessed Value
$39,820
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Augusta, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39462 | $1,620 | $8,000 | $37,565 | $71,420 | $105,275 |
Source: Ownwell
Property Tax Bills Across New Augusta, Mississippi
In New Augusta, property tax bills are calculated based on the assessed value of a home, which is determined by the Perry County tax assessor. The assessed value is typically a percentage of the home's market value. For instance, with a median home price of $37,565, the tax bill can vary significantly. Factors such as the property's location, size, and condition influence the assessed value. Homeowners in New Augusta can expect their tax bills to range from $111 at the 25th percentile to $1,238 at the 90th percentile, illustrating the variability depending on property specifics. Compared to the national median property tax rate of 0.99%, New Augusta's property taxes are relatively low, offering some financial relief to homeowners. However, even within the city, there are disparities, with the highest median tax bill recorded at $383 in the 39462 zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average New Augusta Tax Bill
$383
Average Perry County Tax Bill
$338
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across New Augusta, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39462 | $27 | $111 | $383 | $788 | $1,238 |
Source: Ownwell