Sledge, Mississippi Property Taxes
The median property tax rate in Sledge, MS is 1.21%, which is higher than the national median of 0.99% but slightly lower than the Mississippi state median of 1.31%. With a median home value of $26,938 in Sledge, the typical annual property tax bill is around $290, significantly below the national median of $2,690. Property taxes in Sledge are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Sledge'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 Sledge or another part of Tunica County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sledge, 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 Sledge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sledge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sledge 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 Sledge, Mississippi
Property taxes in Sledge, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sledge is 1.21%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Sledge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sledge 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 Sledge's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38670 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Sledge provides valuable insights into the varying tax landscape across Tunica County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sledge Tax Rate
1.21%
Average Tunica County Tax Rate
1.21%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sledge, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38670 | 0.79% | 0.80% | 1.21% | 1.64% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Sledge, Mississippi
In Sledge, 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 local 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 Sledge, 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 Sledge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sledge is $26,938, with tax bills ranging from $174 at the 25th percentile to $1,551 at the 90th percentile. The highest and lowest median tax bills are both $290, found in zip code 38670.
Average Sledge Assessed Value
$26,938
Average Tunica County Assessed Value
$52,396
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sledge, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38670 | $4,956 | $16,625 | $26,938 | $49,050 | $128,667 |
Source: Ownwell
Property Tax Bills Across Sledge, Mississippi
In Sledge, located in Tunica 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 Sledge is $26,938. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Various factors influence the tax bill, including the home's location, size, and any applicable exemptions or deductions. For homeowners in Sledge, the tax burden can vary significantly. The 25th percentile tax bill stands at $174, while the 75th percentile reaches $546, and the 90th percentile soars to $1,551. These variations highlight the importance of accurate property assessments and potential appeals to ensure fair taxation. Compared to the national median property tax rate of 0.99%, homeowners in Sledge may find their tax bills relatively manageable, but the impact on individual finances can still be significant, especially for those at the higher end of the spectrum.
Average Sledge Tax Bill
$290
Average Tunica County Tax Bill
$625
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Sledge, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38670 | $67 | $174 | $290 | $546 | $1,551 |
Source: Ownwell