Plantersville, Mississippi Property Taxes
The median property tax rate in Plantersville, MS is 1.47%, higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $67,585 in Plantersville, the typical annual property tax bill amounts to $920, which is below the national median of $2,690. Property taxes in Plantersville are calculated based on the assessed value, which usually falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Plantersville'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 Plantersville or another part of Lee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Plantersville, 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 Plantersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plantersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plantersville 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 Plantersville, Mississippi
Property taxes in Plantersville, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plantersville is 1.47%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Plantersville set these rates annually, and they can vary across different neighborhoods. Each year, Plantersville 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 Plantersville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the ZIP code 38862 has the highest median property tax rate of 1.47%, while the same ZIP code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Plantersville 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 Plantersville Tax Rate
1.47%
Average Lee County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plantersville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38862 | 1.00% | 1.07% | 1.47% | 1.50% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Plantersville, Mississippi
In Plantersville, 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 Plantersville, 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 Plantersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38862 has the highest and lowest median tax bill at $920.
Property Tax Assessment Values Across Plantersville, Mississippi
Source: Ownwell
$50,820
$101,010
$151,200
Average Plantersville Assessed Value
$67,585
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 Plantersville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38862 | $23,787 | $42,272 | $67,585 | $108,018 | $160,626 |
Source: Ownwell
Property Tax Bills Across Plantersville, Mississippi
In Plantersville, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as the property's location within Lee County, its size, and any applicable exemptions or abatements can influence the final tax amount. For instance, the median home price in Plantersville is $67,585. Homeowners can expect to pay a tax bill within the range of $594 at the 25th percentile to $1,394 at the 75th percentile, with the 90th percentile reaching up to $1,877. Compared to the national median property tax rate of 0.99%, Plantersville's tax bills reflect local economic conditions and municipal budget requirements. For homeowners, understanding these factors is crucial for financial planning and assessing the long-term affordability of their property. The highest and lowest median tax bills in the region are both $920, indicating a consistent tax rate across different areas within the zip code 38862.
Average Plantersville Tax Bill
$920
Average Lee County Tax Bill
$1,408
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Plantersville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38862 | $341 | $594 | $920 | $1,394 | $1,877 |
Source: Ownwell