Mc Cool, Attala County, Mississippi Property Taxes
The median property tax rate in Mc Cool, MS is 0.90%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $51,388 in Mc Cool, the typical annual property tax bill is $512, significantly below the national median of $2,690. Property taxes in Mc Cool are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Mc Cool'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 Mc Cool 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
Mc Cool, Attala County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$462
$429
Ownwell’s MC COOL Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in MC COOL with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in MC COOL to provide an estimate of your property tax bill. This insightful tool helps you understand your 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 Mc Cool, Attala County, Mississippi
Property taxes in Mc Cool, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Cool is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Mc Cool set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Cool 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 Mc Cool's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39108 in Attala County has a median property tax rate of 0.90%. Understanding how these areas compare with Mc Cool provides valuable insights into the varying tax landscape across Attala County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Cool Tax Rate
0.90%
Average Attala County Tax Rate
1.02%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Cool, Attala County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | 0.48% | 0.63% | 0.90% | 1.55% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Mc Cool, Attala County, Mississippi
In Mc Cool, 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 Attala 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 Mc Cool, 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 Mc Cool helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mc Cool is $51,388, with property tax bills ranging from $273 at the 25th percentile to $1,271 at the 90th percentile. The zip code 39108 has both the highest and lowest median tax bills at $512.
Property Tax Assessment Values Across Mc Cool, Attala County, Mississippi
Source: Ownwell
$47,241
$55,727
$64,212
Average Mc Cool Assessed Value
$51,388
Average Attala County Assessed Value
$55,740
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Cool, Attala County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | $14,918 | $30,622 | $51,388 | $82,494 | $131,241 |
Source: Ownwell
Property Tax Bills Across Mc Cool, Attala County, Mississippi
In Mc Cool, located in Attala County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. Once the assessed value is established, local tax rates, also known as millage rates, are applied to calculate the tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions. For instance, the median home price in Mc Cool is $51,388, which gives an idea of the property values in the area. Homeowners in the 25th percentile can expect a tax bill of around $273, while those in the 75th percentile might see bills closer to $846. At the 90th percentile, tax bills can go up to $1,271. Compared to the national median property tax rate of 0.99%, Mc Cool offers relatively moderate property tax bills, making it an affordable place for homeowners.
Average Mc Cool Tax Bill
$512
Average Attala County Tax Bill
$625
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Cool, Attala County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | $139 | $273 | $512 | $846 | $1,271 |
Source: Ownwell