Meadville, Mississippi Property Taxes
The median property tax rate in Meadville, MS is 0.28%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $95,650 in Meadville, the typical annual property tax bill amounts to $323, far below the national median of $2,690. Property taxes in Meadville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Meadville'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 Meadville 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
Meadville, 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 Meadville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadville 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 Meadville, Mississippi
Property taxes in Meadville, Mississippi, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Meadville is 0.41%, significantly lower than both the Mississippi state median of 0.52% and the U.S. national median of 0.99%. Local government entities within Meadville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meadville 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 Meadville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39120 zip code has the highest median property tax rate of 0.93%, while the 39653 zip code has the lowest median tax rate of 0.41%. Understanding how these cities compare with Meadville provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meadville Tax Rate
0.28%
Average Jefferson County Tax Rate
2.11%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meadville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39653 | 0.19% | 0.28% | 0.28% | 2.11% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Meadville, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Meadville, Mississippi. The market value represents 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 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 Meadville, 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. For instance, the highest median tax bill in the area is $323, found in the 39653 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Meadville Assessed Value
$95,650
Average Jefferson County Assessed Value
$39,930
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meadville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39653 | $31,894 | $48,885 | $95,650 | $114,380 | $115,378 |
Source: Ownwell
Property Tax Bills Across Meadville, Mississippi
Property tax bills in Meadville, located in Jefferson County, Mississippi, are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Meadville, the median home price is $95,650, and property tax bills can vary widely. For example, the 25th percentile tax bill is $323, while the 75th percentile tax bill reaches $1,159. At the 90th percentile, homeowners might see a tax bill as high as $1,908. Homeowners in Meadville benefit from relatively low property taxes compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means fewer local resources for public services funded by property taxes. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Meadville Tax Bill
$323
Average Jefferson County Tax Bill
$560
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39653 | $199 | $323 | $323 | $1,159 | $1,908 |
Source: Ownwell