Steens, Mississippi Property Taxes
The median property tax rate in Steens, MS is 0.82%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Steens, the typical annual property tax bill amounts to $539, significantly below the national median of $2,690. Property taxes in Steens 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 Steens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Steens or another part of Lowndes County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Steens, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$520
Ownwell’s Steens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steens 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 Lowndes County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Steens, Mississippi
Property taxes in Steens, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Steens is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Steens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steens 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 Steens' effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39766 zip code has the highest median property tax rate of 0.82%, while the 39766 zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Steens provides valuable insights into the varying tax landscape across Lowndes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Steens Tax Rate
0.82%
Average Lowndes County Tax Rate
1.23%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Steens, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39766 | 0.44% | 0.57% | 0.82% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Steens, Mississippi
In Steens, 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 Lowndes 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 Steens, 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 Steens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 39766, with a median tax bill of $539.
Average Steens Assessed Value
$63,450
Average Lowndes County Assessed Value
$63,980
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Steens, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39766 | $15,440 | $36,030 | $63,450 | $117,350 | $202,610 |
Source: Ownwell
Property Tax Bills Across Steens, Mississippi
In Steens, located in Lowndes County, MS, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Steens see a median home price of $63,450. The tax rate is applied to this assessed value to determine the annual property tax bill. For instance, the 25th percentile tax bill stands at $272, while the 75th percentile reaches $1,020, and the 90th percentile climbs to $1,904. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners in Steens experience varying tax burdens, with the highest median tax bill recorded at $539 in the 39766 zip code. Compared to the national median property tax rate of 0.99%, Steens residents generally face lower tax rates, making it a relatively affordable area for property owners.
Average Steens Tax Bill
$539
Average Lowndes County Tax Bill
$692
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Steens, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39766 | $121 | $272 | $539 | $1,020 | $1,904 |
Source: Ownwell