Collinsville, Mississippi Property Taxes
The median property tax rate in Collinsville, MS is 0.79%, which is notably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $50,663 in Collinsville, the typical annual property tax bill totals $342, significantly less than the national median of $2,690. Property taxes in Collinsville are based on the tax assessed value, which is generally lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Collinsville'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 Collinsville or another part of Kemper County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Collinsville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$400
Ownwell’s Collinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collinsville 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 Collinsville, Mississippi
Property taxes in Collinsville, Mississippi, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Collinsville is 0.79%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Collinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collinsville 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 Collinsville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39325 zip code has the highest median property tax rate of 0.79%, while the lowest median tax rate is also 0.79%. Understanding how these cities compare with Collinsville provides valuable insights into the varying tax landscape across Kemper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collinsville Tax Rate
0.79%
Average Kemper County Tax Rate
1.45%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collinsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39325 | 0.29% | 0.60% | 0.79% | 1.51% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Collinsville, Mississippi
In Collinsville, 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 Kemper 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 Collinsville, 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 Collinsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Collinsville, the highest median tax bill is $342.00 in the 39325 zip code, while the lowest median tax bill is also $342.00 in the same zip code.
Average Collinsville Assessed Value
$50,663
Average Kemper County Assessed Value
$50,005
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collinsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39325 | $9,103 | $21,472 | $50,663 | $82,932 | $127,641 |
Source: Ownwell
Property Tax Bills Across Collinsville, Mississippi
In Collinsville, Mississippi, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Factors such as location, property size, and improvements to the home can influence this valuation. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the tax bill. In Kemper County, where Collinsville is located, the median home price is $50,663. Homeowners in the area can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $191 and the 75th percentile at $745. The 90th percentile tax bill can go up to $1,157. The highest median tax bill in the area is $342, which is relatively low compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners in Collinsville better anticipate their property tax responsibilities and plan accordingly.
Average Collinsville Tax Bill
$342
Average Kemper County Tax Bill
$395
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Collinsville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39325 | $74 | $191 | $342 | $745 | $1,157 |
Source: Ownwell