Prairie, Mississippi Property Taxes
The median property tax rate in Prairie, MS is 1.48%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Prairie at $30,479, the typical annual property tax bill reaches $392, which is significantly lower than the national median of $2,690. Property taxes in Prairie 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 Prairie'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 Prairie 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
Prairie, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$451
Ownwell’s Prairie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prairie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prairie 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 Prairie, Mississippi
Property taxes in Prairie, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prairie is 1.48%, significantly higher than the U.S. national median of 0.99%. Local government entities within Prairie set these rates annually, and they can vary across different neighborhoods. Each year, Prairie 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 Prairie's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 39756 has both the highest and lowest median property tax rate of 1.48%. Understanding how these areas compare with Prairie provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prairie Tax Rate
1.48%
Average Clay County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prairie, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39756 | 0.69% | 0.73% | 1.48% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Prairie, Mississippi
In Prairie, 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 Clay 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 Prairie, 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. For instance, the median home price in Prairie is $30,479, with tax bills ranging from $180 at the 25th percentile to $1,071 at the 90th percentile. The highest and lowest median tax bills, both $392, are found in zip code 39756. 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 the tax burden.
Average Prairie Assessed Value
$30,479
Average Clay County Assessed Value
$45,801
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prairie, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39756 | $11,269 | $17,463 | $30,479 | $56,562 | $83,936 |
Source: Ownwell
Property Tax Bills Across Prairie, Mississippi
In Prairie, located in Clay County, MS, property tax bills are calculated based on the assessed value of a home. The median home price in Prairie is $30,479, and the property tax rate is applied to this assessed value to determine the tax bill. Factors considered in the calculation include the home's market value, assessment ratio, and the local tax rate. For homeowners in Prairie, the tax bill can vary significantly. At the 25th percentile, the tax bill is around $180, while at the 75th percentile, it rises to approximately $691. At the 90th percentile, it can reach up to $1,071. The highest and lowest median tax bills in the area both stand at $392, specifically in the 39756 zip code. These property taxes impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Prairie's rates can be considered relatively moderate, offering some financial relief to homeowners in the region.
Average Prairie Tax Bill
$392
Average Clay County Tax Bill
$835
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Prairie, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39756 | $80 | $180 | $392 | $691 | $1,071 |
Source: Ownwell