Bolton, Hinds County, Mississippi Property Taxes
The median property tax rate in Bolton, MS is 1.18%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $46,250 in Bolton, the typical annual property tax bill amounts to $537, which is significantly below the national median of $2,690. Property taxes in Bolton are based on the tax assessed value, which is generally lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Bolton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bolton or another part of Hinds County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bolton, Hinds County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$546
$506
Ownwell’s Bolton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bolton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bolton 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 Bolton, Hinds County, Mississippi
Property taxes in Bolton, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bolton is 1.18%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Bolton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bolton 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 Bolton's effective property tax rate to other areas in the U.S. and the national median. For comparison, the highest median property tax rate in the region is also 1.18%, while the lowest median tax rate is 1.18%. Understanding how these cities compare with Bolton provides valuable insights into the varying tax landscape across Hinds County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bolton Tax Rate
1.18%
Average Hinds County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bolton, Hinds County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39041 | 0.70% | 0.85% | 1.18% | 1.77% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Bolton, Hinds County, Mississippi
In Bolton, 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 Hinds 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 Bolton, 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 Bolton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 39041, amounting to $537 annually.
Property Tax Assessment Values Across Bolton, Hinds County, Mississippi
Source: Ownwell
$12,050
$95,395
$178,740
Average Bolton Assessed Value
$46,250
Average Hinds County Assessed Value
$63,595
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bolton, Hinds County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39041 | $13,950 | $24,995 | $46,250 | $87,905 | $157,800 |
Source: Ownwell
Property Tax Bills Across Bolton, Hinds County, Mississippi
In Bolton, located in Hinds County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county tax assessor. This assessed value is then multiplied by the local tax rate to generate the annual tax bill. The median home price in Bolton is $46,250, and homeowners can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $288, while at the 75th percentile, it rises to $913. At the 90th percentile, it reaches $1,751. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and local tax rates. This variability can impact homeowners differently, affecting affordability and financial planning. Compared to the national median property tax rate of 0.99%, Bolton's tax rates and resulting bills offer a unique perspective on property tax burdens within the region. Homeowners in the highest median tax bill zip code, 39041, face a median tax bill of $537.
Average Bolton Tax Bill
$537
Average Hinds County Tax Bill
$1,076
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Bolton, Hinds County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39041 | $170 | $288 | $537 | $913 | $1,751 |
Source: Ownwell