Etta, Lafayette County, Mississippi Property Taxes
The median property tax rate in Etta, Mississippi is 0.84%, notably lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Etta at $71,820, the typical annual property tax bill is $583, significantly below the national median of $2,690. Property taxes in Etta 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 Etta'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 Etta 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
Etta, Lafayette County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$603
$560
Ownwell’s ETTA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ETTA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ETTA 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 Etta, Lafayette County, Mississippi
Property taxes in Etta, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Etta is 0.84%, slightly below the U.S. national median of 0.99%. Local government entities within Etta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Etta 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 Etta's effective property tax rate to other regions in Mississippi and the national median. For comparison, the zip code 38627 has both the highest and lowest median property tax rate in the area, standing at 0.84%. Understanding how these figures compare with Etta provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Etta Tax Rate
0.84%
Average Lafayette County Tax Rate
1.26%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Etta, Lafayette County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38627 | 0.59% | 0.67% | 0.84% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Etta, Lafayette County, Mississippi
In Etta, 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 Lafayette 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 Etta, 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. The median home price in Etta is $71,820, with tax bills ranging from $313 at the 25th percentile to $1,965 at the 90th percentile. The zip code 38627 has the highest and lowest median tax bill at $583. 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 Etta, Lafayette County, Mississippi
Source: Ownwell
$28,390
$96,200
$164,010
Average Etta Assessed Value
$71,820
Average Lafayette County Assessed Value
$152,030
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Etta, Lafayette County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38627 | $13,606 | $22,440 | $71,820 | $119,310 | $211,216 |
Source: Ownwell
Property Tax Bills Across Etta, Lafayette County, Mississippi
In Etta, located in Lafayette County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This value is typically a percentage of the property's market value. Homeowners in Etta can expect their tax bills to vary significantly; for instance, the 25th percentile tax bill is $313, while the 75th percentile reaches $1,424, and the 90th percentile climbs to $1,965. These figures highlight the range of property tax burdens within the community. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Etta may experience different tax pressures based on their property's valuation and the specific rates applied by Lafayette County. Understanding these elements is crucial for homeowners to anticipate their annual property tax expenses and manage their finances effectively.
Average Etta Tax Bill
$583
Average Lafayette County Tax Bill
$1,959
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Etta, Lafayette County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38627 | $112 | $313 | $583 | $1,424 | $1,965 |
Source: Ownwell