Sebastopol, Mississippi Property Taxes
The median property tax rate in Sebastopol, MS is 1.20%, slightly above the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $61,480 in Sebastopol, the typical annual property tax bill is $705, which is significantly lower than the national median of $2,690. Property taxes in Sebastopol are calculated based on the tax assessed value, which is often below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Sebastopol's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sebastopol or another part of Scott County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sebastopol, 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 Sebastopol Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sebastopol with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sebastopol 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 Sebastopol, Mississippi
Property taxes in Sebastopol, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sebastopol is 1.20%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Sebastopol set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sebastopol 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 Sebastopol's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39359 zip code has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Sebastopol 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 Sebastopol Tax Rate
1.20%
Average Scott County Tax Rate
1.02%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sebastopol, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39359 | 0.75% | 0.96% | 1.20% | 2.05% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Sebastopol, Mississippi
In Sebastopol, 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 Sebastopol, 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 Sebastopol helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Sebastopol, the zip code 39359 has the highest median tax bill at $705.00, while the lowest median tax bill is also in the same zip code at $705.00.
Average Sebastopol Assessed Value
$61,480
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 Sebastopol, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39359 | $31,068 | $38,280 | $61,480 | $90,770 | $173,734 |
Source: Ownwell
Property Tax Bills Across Sebastopol, Mississippi
In Sebastopol, 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 Sebastopol is $61,480. Homeowners can expect their tax bills to vary significantly depending on the assessed value and applicable tax rate. For instance, the tax bill at the 25th percentile is around $463, while at the 75th percentile, it reaches approximately $1,100. For those at the 90th percentile, the tax bill can be as high as $2,068. The median property tax bill in the area is $705, which is relatively moderate compared to the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and local government budgets also influence the final tax bill. Understanding these variables is crucial for homeowners as they directly impact annual financial planning and long-term investment in their properties. By keeping track of these factors, homeowners can better anticipate fluctuations in their property tax responsibilities.
Average Sebastopol Tax Bill
$705
Average Scott County Tax Bill
$504
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Sebastopol, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39359 | $127 | $463 | $705 | $1,100 | $2,068 |
Source: Ownwell