Mccool, Mississippi Property Taxes
The median property tax rate in McCool, MS is 1.54%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in McCool, the typical annual property tax bill reaches $297, which is significantly lower than the national median of $2,690. Property taxes in McCool are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding McCool'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 McCool or another part of Attala County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mccool, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$731
$678
Ownwell’s MCCOOL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MCCOOL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MCCOOL 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 Mccool, Mississippi
Property taxes in McCool, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McCool is 1.54%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within McCool set these rates annually, and they can vary across different neighborhoods. Each year, McCool 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 McCool's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 39108 has the highest median property tax rate of 1.54%, while the same zip code also has the lowest median tax rate of 1.54%. Understanding how these areas compare with McCool 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 Mccool Tax Rate
1.54%
Average Attala County Tax Rate
1.02%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mccool, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | 0.81% | 1.09% | 1.54% | 1.65% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Mccool, Mississippi
In McCool, 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 McCool, 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 McCool 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 $297, found in zip code 39108.
Average Mccool Assessed Value
$47,444
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 Mccool, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | $16,481 | $28,092 | $47,444 | $79,042 | $98,000 |
Source: Ownwell
Property Tax Bills Across Mccool, Mississippi
In MCCOOL, located in Attala 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 MCCOOL is $47,444. Local tax authorities apply a tax rate to this assessed value to determine the annual property tax bill. Factors such as property location, home improvements, and market conditions can influence the assessed value. Homeowners in MCCOOL typically see a range of tax bills. For instance, the 25th percentile tax bill is $225, while the 75th percentile reaches $1,003. The 90th percentile tax bill can go up to $1,427, indicating a significant variance based on property value and other factors. The highest and lowest median tax bills in the area are both $297, found in zip code 39108. This variability in tax bills impacts homeowners differently, with some paying significantly more than others, depending on their property's assessed value and the applicable tax rate. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Mccool Tax Bill
$297
Average Attala County Tax Bill
$625
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mccool, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | $182 | $225 | $297 | $1,003 | $1,427 |
Source: Ownwell