Bentonia, Mississippi Property Taxes
The median property tax rate in Bentonia, MS is 1.23%, which is notably higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Bentonia at $49,155, the typical annual property tax bill amounts to $553, which is significantly below the national median of $2,690. Property taxes in Bentonia are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Bentonia'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 Bentonia or another part of Yazoo County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bentonia, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$605
Ownwell’s Bentonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bentonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bentonia 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 Bentonia, Mississippi
Property taxes in Bentonia, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bentonia is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bentonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bentonia 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 Bentonia's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39040 zip code has both the highest and lowest median property tax rate of 1.23%. Understanding how these cities compare with Bentonia provides valuable insights into the varying tax landscape across Yazoo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bentonia Tax Rate
1.23%
Average Yazoo County Tax Rate
1.74%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bentonia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39040 | 0.60% | 0.79% | 1.23% | 1.75% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Bentonia, Mississippi
In Bentonia, 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 Yazoo 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 Bentonia, 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 Bentonia 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 $553, found in the 39040 zip code.
Average Bentonia Assessed Value
$49,155
Average Yazoo County Assessed Value
$47,455
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bentonia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39040 | $11,885 | $22,680 | $49,155 | $93,275 | $158,127 |
Source: Ownwell
Property Tax Bills Across Bentonia, Mississippi
In Bentonia, Yazoo County, MS, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by local authorities. For instance, with a median home price of $49,155, the assessed value forms the basis for calculating the tax owed. Several factors influence the final tax bill, including the home's assessed value, the local tax rate, and applicable exemptions. Homeowners in Bentonia experience a range of tax bills, with the 25th percentile paying around $260 and the 75th percentile paying approximately $1,075. The 90th percentile sees bills as high as $2,091, highlighting the variability based on property value and specific exemptions. Compared to the national median property tax rate of 0.99%, Bentonia's tax rates offer a perspective on how local policies impact homeowners. These taxes fund essential public services, making them a crucial aspect of homeownership in the area.
Average Bentonia Tax Bill
$553
Average Yazoo County Tax Bill
$698
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Bentonia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39040 | $127 | $260 | $553 | $1,075 | $2,091 |
Source: Ownwell