North Carrollton, Mississippi Property Taxes
The median property tax rate in North Carrollton, MS is 2.08%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in North Carrollton, the typical annual property tax bill reaches $459, which is significantly lower than the national median of $2,690. Property taxes in North Carrollton 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 North Carrollton'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 North Carrollton 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
North Carrollton, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$465
$432
Ownwell’s North Carrollton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Carrollton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Carrollton 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 North Carrollton, Mississippi
Property taxes in North Carrollton, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Carrollton is 2.08%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Carrollton set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Carrollton 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 North Carrollton's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38947 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these cities compare with North Carrollton 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 North Carrollton Tax Rate
2.08%
Average Carroll County Tax Rate
1.57%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Carrollton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38947 | 0.98% | 1.42% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across North Carrollton, Mississippi
In North Carrollton, 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 Carroll 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 North Carrollton, 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 North Carrollton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 38947 in North Carrollton has both the highest and lowest median tax bill at $459.
Property Tax Assessment Values Across North Carrollton, Mississippi
Source: Ownwell
$22,379
$39,184
$55,988
Average North Carrollton Assessed Value
$22,379
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 North Carrollton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38947 | $4,034 | $8,325 | $22,379 | $55,331 | $58,019 |
Source: Ownwell
Property Tax Bills Across North Carrollton, Mississippi
In North Carrollton, Carroll County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $22,379. Factors such as property size, location, and improvements contribute to the assessed value. The tax rate is applied to this assessed value to determine the tax bill. Homeowners in North Carrollton can expect a range of tax bills. For example, the 25th percentile tax bill is $267, while the 75th percentile tax bill is $993. At the higher end, the 90th percentile tax bill reaches $1,176. These amounts can significantly impact homeowners, influencing their annual budgeting and financial planning. Comparatively, the national median property tax rate is 0.99%, highlighting the variability in tax burdens across different regions. This variability underscores the importance of understanding local property tax calculations to effectively manage homeownership costs in North Carrollton.
Average North Carrollton Tax Bill
$459
Average Carroll County Tax Bill
$394
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across North Carrollton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38947 | $144 | $267 | $459 | $993 | $1,176 |
Source: Ownwell