Pittsboro, Mississippi Property Taxes
The median property tax rate in Pittsboro, Mississippi is 1.02%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Pittsboro at $51,418, the typical annual property tax bill is $566, which is significantly below the national median of $2,690. Property taxes in Pittsboro are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Pittsboro'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 Pittsboro or another part of Calhoun County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pittsboro, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$524
Ownwell’s Pittsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pittsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittsboro 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 Pittsboro, Mississippi
Property taxes in Pittsboro, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsboro is 1.02%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Pittsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsboro 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 Pittsboro's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38951 zip code has the highest median property tax rate of 1.02%, while the 38951 zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Pittsboro 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 Pittsboro Tax Rate
1.02%
Average Calhoun County Tax Rate
1.03%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsboro, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38951 | 0.48% | 0.78% | 1.02% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Pittsboro, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pittsboro, 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 by the 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 Pittsboro, 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 instance, the highest median tax bill in Pittsboro is $566 in the 38951 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pittsboro Assessed Value
$51,418
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 Pittsboro, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38951 | $10,834 | $25,602 | $51,418 | $87,719 | $139,222 |
Source: Ownwell
Property Tax Bills Across Pittsboro, Mississippi
In Pittsboro, Calhoun County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is typically a percentage of the market value. Homeowners in Pittsboro can expect their property tax bill to vary significantly based on the assessed value of their property and the local tax rate. For instance, the median home price in Pittsboro is $51,418. Property tax bills can range widely, with the 25th percentile at $265 and the 75th percentile reaching $1,101. The highest median tax bill recorded in the area is $566, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners in Pittsboro must budget for these taxes as part of their annual homeownership costs, which can have a substantial impact on their financial planning and overall cost of living.
Average Pittsboro Tax Bill
$566
Average Calhoun County Tax Bill
$645
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsboro, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38951 | $117 | $265 | $566 | $1,101 | $1,728 |
Source: Ownwell