Belzoni, Mississippi Property Taxes
The median property tax rate in Belzoni, MS is 0.82%, notably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Belzoni being $38,880, the typical annual property tax bill is $347, significantly below the national median of $2,690. Property taxes in Belzoni are calculated based on the assessed value, which usually falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Belzoni'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 Belzoni 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
Belzoni, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$319
Ownwell’s BELZONI Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BELZONI with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BELZONI 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 Belzoni, Mississippi
Property taxes in Belzoni, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belzoni is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Belzoni set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belzoni 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 Belzoni's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39038 zip code has the highest median property tax rate of 0.82%, while the same zip code has the lowest median tax rate of 0.82%. Understanding how these cities compare with Belzoni provides valuable insights into the varying tax landscape across Sunflower County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belzoni Tax Rate
0.82%
Average Sunflower County Tax Rate
1.85%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belzoni, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39038 | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Belzoni, Mississippi
In Belzoni, 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 Sunflower 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 Belzoni 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 are both $347, found in the 39038 zip code.
Average Belzoni Assessed Value
$38,880
Average Sunflower County Assessed Value
$50,210
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belzoni, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39038 | $30,858 | $36,197 | $38,880 | $42,240 | $47,587 |
Source: Ownwell
Property Tax Bills Across Belzoni, Mississippi
In Belzoni, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this region is $38,880. Homeowners can expect their tax bills to vary, but in Belzoni, the tax bill is remarkably consistent. The 25th, 75th, and 90th percentiles all report a tax bill of $347, which is notably lower than the national median property tax rate of 0.99%. Several factors influence the assessed value, including the property's market value, location, and any applicable exemptions or deductions. For homeowners, this means the property tax bill is a predictable expense, allowing for better financial planning. The consistency in tax bills within Belzoni ensures that homeowners are not caught off-guard by significant fluctuations, providing a stable and manageable tax environment. This stability can be particularly beneficial for budgeting and long-term financial planning.
Average Belzoni Tax Bill
$347
Average Sunflower County Tax Bill
$885
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Belzoni, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39038 | $347 | $347 | $347 | $347 | $347 |
Source: Ownwell