Nettleton, Mississippi Property Taxes
The median property tax rate in Nettleton, MS is 1.70%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $44,920 in Nettleton, the typical annual property tax bill is approximately $505, which is much lower than the national median of $2,690. Property taxes in Nettleton are based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Nettleton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Nettleton or another part of Monroe County, comprehending 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
1.7%
Estimate Property Tax Bill
$764
$709
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, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nettleton is 1.70%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Nettleton set these rates annually, and they can vary significantly 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 areas in Monroe County and the national median. For comparison, the 38858 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these areas compare with Nettleton 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 Nettleton Tax Rate
1.70%
Average Monroe County Tax Rate
1.48%
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 | 0.59% | 0.86% | 1.70% | 1.87% | 2.30% |
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 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 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 median tax bill in the area is $505 in the 38858 zip code, while the lowest median tax bill is also $505 in the same zip code.
Average Nettleton Assessed Value
$44,920
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 Nettleton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38858 | $8,000 | $24,405 | $44,920 | $65,992 | $101,739 |
Source: Ownwell
Property Tax Bills Across Nettleton, Mississippi
In Nettleton, Monroe County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. With a median home price of $44,920, the property tax rate is applied to determine the annual tax bill. Factors such as the property's location within the county, any applicable exemptions, and the local tax rate all influence the final amount. For homeowners, the tax bill can vary significantly; for instance, the 25th percentile tax bill is $242, while the 75th percentile reaches $886, and the 90th percentile can go up to $1,267. These figures illustrate the range of potential tax liabilities. Compared to the national median property tax rate of 0.99%, Nettleton's property taxes offer a relatively affordable landscape for homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Nettleton Tax Bill
$505
Average Monroe County Tax Bill
$540
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 | $116 | $242 | $505 | $886 | $1,267 |
Source: Ownwell