Newhebron, Lawrence County, Mississippi Property Taxes
The median property tax rate in New Hebron, MS is 1.29%, slightly higher than the national median of 0.99% but just below the Mississippi state median of 1.31%. With a median home value of $55,786, the typical annual property tax bill in New Hebron amounts to $652, which is significantly lower than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding New Hebron's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether residing in New Hebron or investing in property, a thorough grasp of the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Newhebron, Lawrence County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$720
$668
Ownwell’s New Hebron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Hebron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Hebron 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 Newhebron, Lawrence County, Mississippi
Property taxes in New Hebron, Mississippi, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Hebron is 1.29%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Hebron set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Hebron 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 New Hebron's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39140 zip code has the highest median property tax rate of 1.29%, while the 39140 zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with New Hebron provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newhebron Tax Rate
1.29%
Average Lawrence County Tax Rate
1.23%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newhebron, Lawrence County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39140 | 0.48% | 0.89% | 1.29% | 1.86% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Newhebron, Lawrence County, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Hebron, Mississippi. 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 Lawrence 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. Assessment notices in New Hebron 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In New Hebron, the zip code 39140 has both the highest and lowest median tax bill of $652.
Property Tax Assessment Values Across Newhebron, Lawrence County, Mississippi
Source: Ownwell
$35,490
$46,365
$57,240
Average Newhebron Assessed Value
$55,786
Average Lawrence County Assessed Value
$54,030
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newhebron, Lawrence County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39140 | $13,053 | $35,179 | $55,786 | $80,764 | $118,908 |
Source: Ownwell
Property Tax Bills Across Newhebron, Lawrence County, Mississippi
In New Hebron, located in Lawrence County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by local tax assessors. Homeowners in New Hebron can expect property tax bills to vary significantly, with the 25th percentile tax bill at $364 and the 75th percentile reaching $1,067. The top 10% of tax bills in the area can go as high as $1,624. These variations depend on factors such as the property's location, size, and condition. For instance, the highest median tax bill in the area is $652, which is consistent across zip code 39140. Compared to the national median property tax rate of 0.99%, New Hebron offers relatively lower property tax rates. This can be a significant financial consideration for homeowners, impacting their overall cost of living and long-term investment in the property. Understanding these factors is crucial for homeowners to manage their property expenses effectively.
Average Newhebron Tax Bill
$652
Average Lawrence County Tax Bill
$556
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Newhebron, Lawrence County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39140 | $109 | $364 | $652 | $1,067 | $1,624 |
Source: Ownwell