Glen, Mississippi Property Taxes
The median property tax rate in Glen, Mississippi is 0.92%, slightly below the national median of 0.99% and significantly less than the Mississippi state median of 1.31%. With the median home value in Glen at $46,955, the typical annual property tax bill is $413, which is well below the national median of $2,690. Property taxes in Glen are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Glen'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 Glen or another part of Alcorn County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glen, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$432
Ownwell’s Glen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glen 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 Glen, Mississippi
Property taxes in Glen, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glen is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Glen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glen 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 Glen's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 38846 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Glen provides valuable insights into the varying tax landscape across Alcorn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glen Tax Rate
0.92%
Average Alcorn County Tax Rate
0.82%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38846 | 0.43% | 0.76% | 0.92% | 1.74% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Glen, Mississippi
In Glen, 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 Alcorn 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 Glen, 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 Glen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Glen's median home price is $46,955, with annual tax bills ranging from $199 at the 25th percentile to $1,210 at the 90th percentile. The highest and lowest median tax bills, both at $413, are found in zip code 38846.
Average Glen Assessed Value
$46,955
Average Alcorn County Assessed Value
$54,430
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38846 | $6,663 | $21,810 | $46,955 | $71,898 | $111,334 |
Source: Ownwell
Property Tax Bills Across Glen, Mississippi
In Glen, located in Alcorn County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $46,955, homeowners can expect their tax bills to range significantly. The 25th percentile tax bill is around $199, while the 75th percentile reaches $794, and the 90th percentile can go up to $1,210. Factors influencing these tax bills include property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Glen's tax rates can be relatively lower, making it an attractive option for homeowners. However, the impact on homeowners varies, with those at the higher end of the market potentially facing more substantial tax bills. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Glen Tax Bill
$413
Average Alcorn County Tax Bill
$422
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Glen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38846 | $92 | $199 | $413 | $794 | $1,210 |
Source: Ownwell