Coffeeville, Mississippi Property Taxes
The median property tax rate in Coffeeville, MS is 1.57%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Coffeeville, the typical annual property tax bill reaches $234, which is significantly lower than the national median of $2,690. Property taxes in Coffeeville 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 Coffeeville'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 Coffeeville 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
Coffeeville, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Coffeeville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Coffeeville to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Coffeeville, Mississippi
Property taxes in Coffeeville, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coffeeville is 1.57%, significantly higher than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Coffeeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coffeeville 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 Coffeeville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38922 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Coffeeville provides valuable insights into the varying tax landscape across Grenada County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coffeeville Tax Rate
1.57%
Average Grenada County Tax Rate
0.92%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coffeeville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38922 | 0.62% | 0.83% | 1.57% | 1.57% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Coffeeville, Mississippi
In Coffeeville, 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 Grenada 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 Coffeeville, 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 Coffeeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Coffeeville is $234 in zip code 38922, which is also the lowest median tax bill in the area.
Average Coffeeville Assessed Value
$17,675
Average Grenada County Assessed Value
$62,731
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coffeeville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38922 | $3,774 | $6,800 | $17,675 | $45,170 | $91,477 |
Source: Ownwell
Property Tax Bills Across Coffeeville, Mississippi
In Coffeeville, located in Grenada County, MS, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value of the property, which is determined by local tax assessors. For homeowners in Coffeeville, the median home price is $17,675. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors influencing your property tax bill include the market value of your home, any applicable exemptions, and the specific tax rate set by local authorities. For instance, the 25th percentile tax bill is $85, while the 75th percentile tax bill is $448, and the 90th percentile tax bill can go up to $738. These property taxes fund essential services such as public schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Coffeeville's property tax rates can be considered relatively modest, making it a more affordable option for homeowners.
Average Coffeeville Tax Bill
$234
Average Grenada County Tax Bill
$583
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Coffeeville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38922 | $34 | $85 | $234 | $448 | $738 |
Source: Ownwell