Scobey, Mississippi Property Taxes
The median property tax rate in Scobey, MS is 0.78%, which is notably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Scobey at $57,608, the typical annual property tax bill amounts to $494, significantly less than the national median of $2,690. Property taxes in Scobey are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Scobey'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 Scobey 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
Scobey, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$449
Ownwell’s Scobey Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Scobey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scobey 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 Scobey, Mississippi
Property taxes in Scobey, Mississippi, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Scobey is 0.78%, which is lower than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Scobey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scobey 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 Scobey's effective property tax rate to other counties in Mississippi and the national median. For comparison, the highest median property tax rate in Grenada County is also 0.78%, while the lowest median tax rate is 0.78%. Understanding how these cities compare with Scobey 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 Scobey Tax Rate
0.78%
Average Grenada County Tax Rate
0.92%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scobey, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38953 | 0.57% | 0.64% | 0.78% | 1.57% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Scobey, Mississippi
In Scobey, 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 Scobey, 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 Scobey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 38953 at $494.00, which also happens to be the lowest in the area.
Average Scobey Assessed Value
$57,608
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 Scobey, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38953 | $13,604 | $26,098 | $57,608 | $80,630 | $129,858 |
Source: Ownwell
Property Tax Bills Across Scobey, Mississippi
In Scobey, Grenada County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Homeowners in Scobey face a median property tax bill of $494 annually, which is significantly lower than the national median of 0.99%. For homes in the 25th percentile, the tax bill is around $263, while those in the 75th percentile pay approximately $825. At the 90th percentile, homeowners see tax bills as high as $1,256. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. Lower property taxes can make homeownership more affordable in Scobey, providing financial relief compared to other regions. However, it's essential for homeowners to stay informed about their property's assessed value and any potential changes in local tax rates, as these can impact annual tax obligations.
Average Scobey Tax Bill
$494
Average Grenada County Tax Bill
$583
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Scobey, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38953 | $140 | $263 | $494 | $825 | $1,256 |
Source: Ownwell