Cruger, Mississippi Property Taxes
The median property tax rate in Cruger, MS is 1.70%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Cruger, the typical annual property tax bill reaches $523, which is significantly lower than the national median of $2,690. Property taxes in Cruger 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 Cruger'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 Cruger 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
Cruger, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$538
$499
Ownwell’s Cruger Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cruger with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cruger 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 Cruger, Mississippi
Property taxes in Cruger, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cruger is 0.71%, which is lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Cruger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cruger 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 Cruger's effective property tax rate to other counties in Mississippi and the national median. For comparison, the area with the highest median property tax rate in Holmes County has a rate of 0.71%, while the area with the lowest median tax rate also has a rate of 0.71%. Understanding how these cities compare with Cruger provides valuable insights into the varying tax landscape across Holmes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cruger Tax Rate
1.70%
Average Holmes County Tax Rate
1.81%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cruger, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38924 | 1.02% | 1.38% | 1.70% | 2.14% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across Cruger, Mississippi
In Cruger, 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 Holmes 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 Cruger, 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 Cruger is $31,652, with tax bills ranging from $212 at the 25th percentile to $1,597 at the 90th percentile. The zip code 38924 has both the highest and lowest median tax bill at $523. 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 Cruger helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cruger Assessed Value
$31,652
Average Holmes County Assessed Value
$35,335
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cruger, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38924 | $6,224 | $11,219 | $31,652 | $62,022 | $118,287 |
Source: Ownwell
Property Tax Bills Across Cruger, Mississippi
In Cruger, Holmes County, MS, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value typically represents a percentage of the property's market value. Homeowners in Cruger face varying tax bills, with the 25th percentile paying around $212 and the 75th percentile paying about $929 annually. For those at the 90th percentile, the tax bill can be as high as $1,597. The median home price in Cruger is $31,652, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, Cruger homeowners generally experience lower tax rates. However, the highest median tax bill in the area is $523, reflecting specific local factors such as property location and improvements that can affect individual assessments. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Cruger Tax Bill
$523
Average Holmes County Tax Bill
$549
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Cruger, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38924 | $109 | $212 | $523 | $929 | $1,597 |
Source: Ownwell