Flora, Hinds County, Mississippi Property Taxes
The median property tax rate in Flora, Mississippi is 1.18%, slightly higher than the national median of 0.99% but below the Mississippi state median of 1.31%. With a median home value of $57,145 in Flora, the typical annual property tax bill reaches $654, which is significantly lower than the national median of $2,690. Property taxes in Flora are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Flora'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 Flora 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
Flora, Hinds County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$674
$626
Ownwell’s Flora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flora 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 Flora, Hinds County, Mississippi
Property taxes in Flora, Mississippi, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Flora is 0.81%, significantly lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Flora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flora 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 Flora's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39071 zip code has the highest median property tax rate of 0.81%, while the 39071 zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Flora 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 Flora 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 Flora, Hinds County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39071 | 0.76% | 0.88% | 1.18% | 1.77% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Flora, Hinds County, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Flora, Mississippi. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Hinds County Tax Assessor 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 Flora, 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 Flora is $57,145. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Flora's zip code 39071 has both the highest and lowest median tax bills at $654. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Flora, Hinds County, Mississippi
Source: Ownwell
$12,050
$95,395
$178,740
Average Flora Assessed Value
$57,145
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 Flora, Hinds County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39071 | $25,849 | $35,600 | $57,145 | $75,058 | $116,332 |
Source: Ownwell
Property Tax Bills Across Flora, Hinds County, Mississippi
In Flora, Hinds County, MS, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined through periodic property assessments. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Flora is $57,145. Homeowners in Flora can expect varying tax bills based on their property values. The tax bill at the 25th percentile is $340, while at the 75th percentile, it rises to $1,032. For those at the 90th percentile, the tax bill can reach $1,165. The highest and lowest median tax bills both stand at $654, indicating a relatively consistent tax rate across the area. Compared to the national median property tax rate of 0.99%, Flora's tax rates are relatively moderate, providing some relief to homeowners while still funding essential community services.
Average Flora Tax Bill
$654
Average Hinds County Tax Bill
$1,076
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Flora, Hinds County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39071 | $226 | $340 | $654 | $1,032 | $1,165 |
Source: Ownwell