Chunchula, Mississippi Property Taxes
The median property tax rate in Chunchula, MS is 1.94%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Chunchula, the typical annual property tax bill reaches $285, which is significantly lower than the national median of $2,690. Property taxes in Chunchula 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 Chunchula'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 Chunchula 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
Chunchula, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$286
$265
Ownwell’s Chunchula Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chunchula with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chunchula 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 Chunchula, Mississippi
Property taxes in Chunchula, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chunchula is 1.94%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Chunchula set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chunchula 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 Chunchula's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 36521 zip code has both the highest and lowest median property tax rate of 1.94%. Understanding how these cities compare with Chunchula provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chunchula Tax Rate
1.94%
Average Greene County Tax Rate
1.91%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chunchula, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36521 | 1.94% | 1.94% | 1.94% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Chunchula, Mississippi
In Chunchula, 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 Greene 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 Chunchula, 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 Chunchula helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Chunchula are both $285, specifically in the 36521 zip code.
Average Chunchula Assessed Value
$14,730
Average Greene County Assessed Value
$13,790
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chunchula, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36521 | $14,730 | $14,730 | $14,730 | $14,730 | $14,730 |
Source: Ownwell
Property Tax Bills Across Chunchula, Mississippi
In Chunchula, property tax bills are calculated based on the assessed value of your home. The assessed value is typically a percentage of the market value, which is determined by the local tax assessor. Factors such as the size of the property, location, and any improvements made can influence the assessed value. Once the assessed value is established, the tax rate set by Greene County is applied. For instance, the median home price in Chunchula is $14,730. With a consistent tax bill of $285 across various percentiles, homeowners can anticipate a predictable expense. This stability is crucial for budgeting and financial planning. Comparatively, the national median property tax rate is 0.99%, making Chunchula's property taxes relatively manageable. For homeowners, understanding these calculations helps in anticipating annual expenses and planning accordingly. The consistency in tax bills also provides a sense of financial security, ensuring that homeowners are not caught off guard by fluctuating rates.
Average Chunchula Tax Bill
$285
Average Greene County Tax Bill
$191
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Chunchula, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36521 | $285 | $285 | $285 | $285 | $285 |
Source: Ownwell