Aberdeen, Mississippi Property Taxes
The median property tax rate in Aberdeen, MS is 1.61%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Aberdeen, the typical annual property tax bill reaches $588, which is below the national median of $2,690. Property taxes in Aberdeen 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 Aberdeen'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 Aberdeen 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
Aberdeen, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$715
$663
Ownwell’s Aberdeen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aberdeen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aberdeen 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 Aberdeen, Mississippi
Property taxes in Aberdeen, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aberdeen is 1.61%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Aberdeen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aberdeen 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 Aberdeen's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39730 zip code has both the highest and lowest median property tax rate of 1.61%. Understanding how these cities compare with Aberdeen provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aberdeen Tax Rate
1.61%
Average Monroe County Tax Rate
1.48%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aberdeen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39730 | 0.53% | 0.87% | 1.61% | 2.80% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Aberdeen, Mississippi
In Aberdeen, 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 Monroe 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 Aberdeen, 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 Aberdeen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Aberdeen is $588 in zip code 39730, while the lowest is also $588 in the same zip code.
Average Aberdeen Assessed Value
$44,400
Average Monroe County Assessed Value
$48,950
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aberdeen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39730 | $6,688 | $22,140 | $44,400 | $73,240 | $111,956 |
Source: Ownwell
Property Tax Bills Across Aberdeen, Mississippi
Property tax bills in Aberdeen, Monroe County, MS, are determined based on the assessed value of a property. The assessed value is a percentage of the market value, which is calculated by the county assessor. Several factors contribute to the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Aberdeen can expect varying tax bills. For instance, the 25th percentile tax bill is around $239, while the 75th percentile tax bill reaches $996. At the higher end, the 90th percentile tax bill is approximately $1,539. The median home price in Aberdeen is $44,400, which influences these tax amounts. Compared to the national median property tax rate of 0.99%, Aberdeen's property taxes are relatively modest. This can significantly affect homeowners by providing a more affordable living situation compared to higher-tax regions. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Aberdeen Tax Bill
$588
Average Monroe County Tax Bill
$540
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Aberdeen, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39730 | $90 | $239 | $588 | $996 | $1,539 |
Source: Ownwell