Morton, Mississippi Property Taxes
The median property tax rate in Morton, MS is 1.04%, slightly above the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $53,480 in Morton, the typical annual property tax bill amounts to $571, which is substantially below the national median of $2,690. Property taxes in Morton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Morton’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 Morton or elsewhere in Scott County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morton, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$556
Ownwell’s Morton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morton 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 Scott County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Morton, Mississippi
Property taxes in Morton, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morton is 1.04%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Morton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morton 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 Morton's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39117 zip code holds both the highest and lowest median property tax rate in the area, at 1.04%. Understanding how these cities compare with Morton provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morton Tax Rate
1.04%
Average Scott County Tax Rate
1.02%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39117 | 0.62% | 0.78% | 1.04% | 1.75% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Morton, Mississippi
In Morton, 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 Scott 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 Morton, 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. For instance, the median home price in Morton is $53,480, with tax bills ranging from $329 at the 25th percentile to $1,689 at the 90th percentile. 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 Morton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Morton Assessed Value
$53,480
Average Scott County Assessed Value
$53,585
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39117 | $14,960 | $31,130 | $53,480 | $88,620 | $144,840 |
Source: Ownwell
Property Tax Bills Across Morton, Mississippi
In Morton, located in Scott County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Morton is $53,480. Property tax rates are applied to this assessed value to determine the annual tax bill. For instance, the 25th percentile tax bill in Morton is $329, while the 75th percentile reaches $1,018, and the 90th percentile can go up to $1,689. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential community services such as schools, infrastructure, and public safety. Homeowners in Morton should be aware of how these factors can affect their annual property tax obligations. Comparing this to the national median property tax rate of 0.99%, Morton's rates can be considered relatively moderate, providing a balanced approach to funding local services while not overly burdening homeowners.
Average Morton Tax Bill
$571
Average Scott County Tax Bill
$504
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Morton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39117 | $156 | $329 | $571 | $1,018 | $1,689 |
Source: Ownwell