Nettleton, Mississippi Property Taxes
The median property tax rate in Nettleton, MS is 1.30%, slightly lower than the state median of 1.31% but higher than the national median of 0.99%. With a median home value of $63,625 in Nettleton, the typical annual property tax bill amounts to $818, which is below the national median of $2,690. Property taxes in Nettleton are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Grasping Nettleton's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can result in considerable annual savings. Whether you're in the heart of Nettleton 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
Nettleton, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$827
$768
Ownwell’s Nettleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nettleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nettleton 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 Nettleton, Mississippi
Property taxes in Nettleton, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nettleton is 0.52%, significantly lower than the U.S. national median of 0.99%. Local government entities within Nettleton set these rates annually, and they can vary across different neighborhoods. Each year, Nettleton 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 Nettleton's effective property tax rate to other counties in Mississippi and the national median. Understanding how Nettleton's property tax rate compares with other regions provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nettleton Tax Rate
1.30%
Average Lee County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nettleton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38858 | 1.00% | 1.00% | 1.30% | 1.50% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Nettleton, Mississippi
In Nettleton, 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 Lee 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 Nettleton, 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 Nettleton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $818, found in zip code 38858.
Average Nettleton Assessed Value
$63,625
Average Lee County Assessed Value
$101,000
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nettleton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38858 | $21,671 | $39,362 | $63,625 | $102,435 | $159,333 |
Source: Ownwell
Property Tax Bills Across Nettleton, Mississippi
In Nettleton, Lee County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Nettleton is $63,625. Homeowners' tax bills can vary significantly, with the 25th percentile at $517 and the 75th percentile at $1,284, while the 90th percentile reaches up to $1,818. The highest and lowest median tax bills both stand at $818 in the 38858 zip code. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Nettleton's rates can present a different financial impact on homeowners. Understanding these factors is crucial for homeowners to anticipate their annual tax liabilities and manage their finances effectively. The property tax system ensures that local services and infrastructure are adequately funded, directly affecting the quality of life in the community.
Average Nettleton Tax Bill
$818
Average Lee County Tax Bill
$1,408
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Nettleton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38858 | $273 | $517 | $818 | $1,284 | $1,818 |
Source: Ownwell