Grenada, Mississippi Property Taxes
The median property tax rate in Grenada, MS is 1.57%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Grenada at $30,756, the typical annual property tax bill amounts to $387, which is well below the national median of $2,690. Property taxes in Grenada are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Grenada's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Grenada 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
Grenada, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$483
$448
Ownwell’s Grenada Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grenada with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grenada 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 Grenada, Mississippi
Property taxes in Grenada, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grenada is 0.75%, which is lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Grenada set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grenada 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 Grenada's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38943 zip code has the highest median property tax rate of 1.57%, while the 38917 zip code has the lowest median tax rate of 0.64%. Understanding how these cities compare with Grenada provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grenada Tax Rate
1.57%
Average Carroll County Tax Rate
1.57%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grenada, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38901 | 0.63% | 0.65% | 1.57% | 1.57% | 1.58% |
| 38917 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
| 38943 | 1.57% | 1.57% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Grenada, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grenada, MS. The market value represents 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 local 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. Assessment notices in Grenada 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. The median home price in Grenada is $30,756, with tax bills ranging from $196 at the 25th percentile to $1,268 at the 90th percentile. The highest median tax bill is $722 in the 38943 zip code, while the lowest median tax bill is $280 in the 38917 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Grenada Assessed Value
$30,756
Average Carroll County Assessed Value
$31,552
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grenada, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38901 | $12,690 | $18,914 | $28,094 | $47,220 | $76,238 |
| 38917 | $43,977 | $43,977 | $43,977 | $43,977 | $43,977 |
| 38943 | $46,020 | $46,020 | $46,020 | $46,020 | $46,020 |
Source: Ownwell
Property Tax Bills Across Grenada, Mississippi
In Grenada, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting what the property could sell for under normal conditions. Factors such as property size, location, and condition are considered in determining this value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Grenada face varying tax bills depending on their property's assessed value. For instance, the 25th percentile of tax bills is around $196, while the 75th percentile reaches $734. The highest median tax bill in the area is $722, found in the 38943 zip code, while the lowest median tax bill is $280 in the 38917 zip code. Compared to the national median property tax rate of 0.99%, Grenada's tax rates can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Grenada Tax Bill
$387
Average Carroll County Tax Bill
$394
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Grenada, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38901 | $140 | $186 | $387 | $740 | $1,299 |
| 38917 | $280 | $280 | $280 | $280 | $280 |
| 38943 | $722 | $722 | $722 | $722 | $722 |
Source: Ownwell