Cascilla, Mississippi Property Taxes
The median property tax rate in Cascilla, MS is 1.12%, which is higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Cascilla at $40,502, the typical annual property tax bill reaches $484, which is significantly below the national median of $2,690. Property taxes in Cascilla are calculated based on the tax assessed value, typically lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Cascilla'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 Cascilla or another part of Tallahatchie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cascilla, 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 Cascilla Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cascilla with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cascilla 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 Cascilla, Mississippi
Property taxes in Cascilla, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cascilla is 0.52%, significantly lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Cascilla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cascilla 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 Cascilla's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38920 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Cascilla provides valuable insights into the varying tax landscape across Tallahatchie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cascilla Tax Rate
1.12%
Average Tallahatchie County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cascilla, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38920 | 0.41% | 0.84% | 1.12% | 1.88% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Cascilla, Mississippi
In Cascilla, 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 Tallahatchie 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 Cascilla, 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 Cascilla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38920 has the highest median tax bill at $484, while the lowest median tax bill is also $484.
Average Cascilla Assessed Value
$40,502
Average Tallahatchie County Assessed Value
$42,376
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cascilla, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38920 | $12,049 | $23,530 | $40,502 | $67,937 | $112,373 |
Source: Ownwell
Property Tax Bills Across Cascilla, Mississippi
In Cascilla, located in Tallahatchie County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Local tax rates, set by various taxing authorities, are then applied to this assessed value to determine the annual property tax bill. For homeowners in Cascilla, the median home price is $40,502. Property tax bills can vary significantly, with the 25th percentile tax bill at $255 and the 75th percentile reaching $881. The 90th percentile tax bill can climb as high as $1,708. These figures reflect the range of property taxes that residents might expect to pay, depending on the assessed value of their homes and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, the property tax rates in Cascilla can have a notable impact on homeowners, influencing their overall housing costs and financial planning.
Average Cascilla Tax Bill
$484
Average Tallahatchie County Tax Bill
$479
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Cascilla, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38920 | $99 | $255 | $484 | $881 | $1,708 |
Source: Ownwell