Marshall County Property Taxes
The median property tax rate in Marshall County is 1.72%, which is significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Marshall County, the typical annual property tax bill reaches $600, which is considerably lower than the national median of $2,690. Property taxes in Marshall County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Marshall County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Holly Springs or another part of Marshall County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marshall County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$971
Ownwell’s Marshall County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Marshall County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Marshall County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Marshall County, Mississippi
Property taxes in Marshall County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Marshall County is 1.72%, which is significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Marshall County set these rates annually, and they can vary significantly between different areas within the county. Each year, Marshall County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Holly Springs has one of the higher property tax rates in Mississippi at 1.72%, while the city of Mount Pleasant boasts one of the lowest at 0.79%. Analyzing how Marshall County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Marshall County Tax Rate
1.72%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | 0.61% | 0.83% | 1.72% | 1.72% | 1.72% |
| Coldwater | 0.65% | 0.97% | 1.72% | 1.72% | 1.72% |
| Holly Springs | 0.73% | 1.11% | 1.72% | 2.23% | 2.80% |
| Lamar | 0.56% | 0.79% | 1.72% | 1.72% | 1.72% |
| Mount Pleasant | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Olive Branch | 0.33% | 0.78% | 1.14% | 1.72% | 1.72% |
| Potts Camp | 0.72% | 0.85% | 1.72% | 1.72% | 1.77% |
| Red Banks | 0.55% | 0.83% | 1.36% | 1.72% | 1.73% |
| Victoria | 0.92% | 0.92% | 0.93% | 0.94% | 0.94% |
| Waterford | 0.73% | 0.82% | 1.72% | 1.72% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Marshall County, Mississippi
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Marshall County. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Marshall County Appraisal District. The assessed value, however, 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 Marshall County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Marshall County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Marshall County, Victoria has the highest median tax bill at $1,293, while Coldwater has the lowest at $401.
Property Tax Assessment Values Across Marshall County, Mississippi
Source: Ownwell
$31,190
$80,435
$129,680
Average Marshall County Assessed Value
$56,450
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshall County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | $9,750 | $21,960 | $59,780 | $112,700 | $197,956 |
| Coldwater | $6,640 | $13,280 | $31,190 | $68,740 | $96,710 |
| Holly Springs | $6,150 | $20,000 | $58,105 | $89,968 | $163,778 |
| Lamar | $9,100 | $31,700 | $60,880 | $116,750 | $268,088 |
| Mount Pleasant | $85,230 | $85,230 | $85,230 | $85,230 | $85,230 |
| Olive Branch | $10,274 | $31,785 | $64,320 | $106,625 | $163,980 |
| Potts Camp | $1,130 | $8,555 | $44,080 | $76,835 | $131,675 |
| Red Banks | $9,110 | $29,000 | $67,430 | $125,935 | $191,180 |
| Victoria | $84,032 | $101,150 | $129,680 | $139,190 | $144,896 |
| Waterford | $5,302 | $17,672 | $50,675 | $83,882 | $142,502 |
Source: Ownwell
Property Tax Bills Across Marshall County, Mississippi
In Marshall County, MS, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in the county is $56,450. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $241 and the 75th percentile reaching $1,297. Factors influencing these variations include the property's location, size, and any applicable exemptions or deductions. For instance, the highest median tax bill in the county is found in Victoria at $1,293, while the lowest is in Coldwater at $401. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Marshall County's tax rates offer a relatively affordable option for homeowners, ensuring essential community services while maintaining manageable costs.
Average Marshall County Tax Bill
$600
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | $129 | $263 | $587 | $1,291 | $2,214 |
| Coldwater | $80 | $164 | $401 | $694 | $1,199 |
| Holly Springs | $106 | $253 | $754 | $1,494 | $2,358 |
| Lamar | $108 | $307 | $682 | $1,447 | $2,812 |
| Mount Pleasant | $675 | $675 | $675 | $675 | $675 |
| Olive Branch | $140 | $297 | $543 | $1,095 | $1,792 |
| Potts Camp | $16 | $113 | $433 | $885 | $1,501 |
| Red Banks | $118 | $303 | $672 | $1,382 | $2,271 |
| Victoria | $1,206 | $1,238 | $1,293 | $1,347 | $1,380 |
| Waterford | $81 | $216 | $492 | $944 | $1,738 |
Source: Ownwell
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