Ashland, Mississippi Property Taxes
The median property tax rate in Ashland, Mississippi is 1.94%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Ashland at $19,250, the typical annual property tax bill reaches $246, which is significantly lower than the national median of $2,690. Property taxes in Ashland 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 Ashland'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 Ashland 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
Ashland, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$373
Ownwell’s Ashland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ashland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ashland 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 Ashland, Mississippi
Property taxes in Ashland, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ashland is 1.94%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Ashland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ashland 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 Ashland's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38603 zip code has the highest median property tax rate of 1.94%, while the 38603 zip code also has the lowest median tax rate of 1.94%. Understanding how these cities compare with Ashland provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ashland Tax Rate
1.94%
Average Benton County Tax Rate
1.92%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ashland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38603 | 0.87% | 1.16% | 1.94% | 2.10% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Ashland, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ashland, Mississippi. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Benton County Assessor 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. Assessment notices in Ashland 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. The median home price in Ashland is $19,250, with tax bills ranging from $47 at the 25th percentile to $1,321 at the 90th percentile. The zip code 38603 has both the highest and lowest median tax bill of $246. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ashland Assessed Value
$19,250
Average Benton County Assessed Value
$21,390
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ashland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38603 | $1,310 | $2,860 | $19,250 | $50,185 | $89,470 |
Source: Ownwell
Property Tax Bills Across Ashland, Mississippi
In Ashland, property tax bills are determined by assessing the market value of a home and applying the local tax rate. Homeowners in Benton County can expect their property taxes to be influenced by the assessed value of their property, which is derived from the median home price of $19,250. The tax rate is then applied to this value to calculate the annual tax bill. Factors such as property size, location, and improvements can affect the assessed value. In Ashland, the 25th percentile tax bill stands at $47, while the 75th percentile tax bill reaches $632. For those at the higher end, the 90th percentile tax bill can be as much as $1,321. These tax bills can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Ashland Tax Bill
$246
Average Benton County Tax Bill
$264
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Ashland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38603 | $23 | $47 | $246 | $632 | $1,321 |
Source: Ownwell