Big Creek, Mississippi Property Taxes
The median property tax rate in Big Creek, MS is 1.78%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Big Creek at $53,265, the typical annual property tax bill reaches $540, which is below the national median of $2,690. Property taxes in Big Creek 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 Big Creek'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 Big Creek 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
Big Creek, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Big Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Creek 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 Big Creek, Mississippi
Property taxes in Big Creek, Mississippi, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Creek is 1.78%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Big Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Creek 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 Big Creek's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38914 zip code has the highest median property tax rate of 1.78%, while the 38914 zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Big Creek provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Creek Tax Rate
1.78%
Average Calhoun County Tax Rate
1.03%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Creek, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38914 | 0.65% | 0.79% | 1.78% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Big Creek, Mississippi
In Big Creek, 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 Calhoun 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 Big Creek, 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 Big Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, zip code 38914 has the highest median tax bill at $540, which is also the lowest median tax bill, reflecting a consistent tax environment.
Average Big Creek Assessed Value
$53,265
Average Calhoun County Assessed Value
$55,127
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Creek, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38914 | $12,316 | $28,752 | $53,265 | $79,623 | $131,935 |
Source: Ownwell
Property Tax Bills Across Big Creek, Mississippi
In Big Creek, Calhoun County, MS, property tax bills are calculated based on the assessed value of your property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of your property's market value. For instance, with a median home price of $53,265, the assessed value is a key factor in determining your tax bill. The tax rate, set by local government entities, is applied to this assessed value to calculate your annual property tax bill. In Big Creek, the tax bill can vary widely. For example, the 25th percentile tax bill is $286, while the 75th percentile tax bill is $1098, and the 90th percentile tax bill reaches $1739. These figures show how significantly property taxes can impact homeowners, depending on their property's assessed value and the applicable tax rate. Compared to the national median property tax rate of 0.99%, Big Creek's property taxes can be seen as relatively favorable or burdensome, depending on individual circumstances. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Big Creek Tax Bill
$540
Average Calhoun County Tax Bill
$645
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Creek, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38914 | $145 | $286 | $540 | $1,098 | $1,739 |
Source: Ownwell