Calhoun City, Mississippi Property Taxes
The median property tax rate in Calhoun City, MS is 1.01%, slightly above the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Calhoun City at $56,322, the typical annual property tax bill is $700, which is significantly below the national median of $2,690. Property taxes in Calhoun City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Calhoun City'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 Calhoun City or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Calhoun City, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$569
$528
Ownwell’s Calhoun City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calhoun City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calhoun City 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 Calhoun City, Mississippi
Property taxes in Calhoun City, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calhoun City is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Calhoun City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calhoun City 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 Calhoun City's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38916 zip code has both the highest and lowest median property tax rate of 1.01%. Understanding how these cities compare with Calhoun City 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 Calhoun City Tax Rate
1.01%
Average Calhoun County Tax Rate
1.03%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calhoun City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38916 | 0.50% | 0.79% | 1.01% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Calhoun City, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Calhoun City, Mississippi. 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 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 Calhoun City, 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. For example, the highest median tax bill in the area is $700 in zip code 38916. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Calhoun City Assessed Value
$56,322
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 Calhoun City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38916 | $20,658 | $37,637 | $56,322 | $92,636 | $151,510 |
Source: Ownwell
Property Tax Bills Across Calhoun City, Mississippi
In Calhoun City, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. For Calhoun City, the median home price is $56,322. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and changes in the real estate market can influence the assessed value. Homeowners in Calhoun City typically see tax bills ranging from $380 at the 25th percentile to $1,749 at the 90th percentile. The median tax bill in the city stands at $700, which is below the national median property tax rate of 0.99%. These tax bills can have significant effects on homeowners, impacting their annual budgets and long-term financial planning. Understanding how these taxes are calculated can help homeowners anticipate and manage their expenses more effectively.
Average Calhoun City Tax Bill
$700
Average Calhoun County Tax Bill
$645
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Calhoun City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38916 | $176 | $380 | $700 | $1,088 | $1,749 |
Source: Ownwell