Pheba, Oktibbeha County, Mississippi Property Taxes
The median property tax rate in Pheba, MS is 0.93%, slightly lower than the national median of 0.99% and significantly below the Mississippi state median of 1.31%. With the median home value in Pheba at $86,910, the typical annual property tax bill is $941, which is well under the national median of $2,690. Property taxes in Pheba are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Pheba'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 Pheba or another part of Oktibbeha County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pheba, Oktibbeha County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$808
$750
Ownwell’s Pheba Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pheba with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pheba 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 Pheba, Oktibbeha County, Mississippi
Property taxes in Pheba, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pheba is 0.93%, slightly below the U.S. national median of 0.99%. Local government entities within Pheba set these rates annually, and they can vary across different neighborhoods. Each year, Pheba 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 Pheba's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39755 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Pheba provides valuable insights into the varying tax landscape across Oktibbeha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pheba Tax Rate
0.93%
Average Oktibbeha County Tax Rate
1.40%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pheba, Oktibbeha County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39755 | 0.55% | 0.80% | 0.93% | 1.08% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Pheba, Oktibbeha County, Mississippi
In Pheba, 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 Oktibbeha 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 Pheba, 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 Pheba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 39755 has both the highest and lowest median tax bill at $941, which can serve as a benchmark for homeowners in the area.
Property Tax Assessment Values Across Pheba, Oktibbeha County, Mississippi
Source: Ownwell
$54,040
$92,230
$130,420
Average Pheba Assessed Value
$86,910
Average Oktibbeha County Assessed Value
$122,140
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pheba, Oktibbeha County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39755 | $35,840 | $54,055 | $86,910 | $160,935 | $181,110 |
Source: Ownwell
Property Tax Bills Across Pheba, Oktibbeha County, Mississippi
Property tax bills in Pheba, Oktibbeha County, MS, are determined by assessing the market value of a property and applying the local tax rate to this value. The median home price in Pheba is $86,910, and the tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners can expect a tax bill ranging from $542 at the 25th percentile to $2,103 at the 90th percentile, with the median tax bill being $941. This tax bill is influenced by various factors, including property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Pheba's rates can be relatively favorable or burdensome depending on individual property assessments. This variability in tax bills can significantly impact homeowners' annual budgets, making it crucial for them to understand how their property is valued and taxed. Homeowners should stay informed about local property tax rates and assessments to manage their financial planning effectively.
Average Pheba Tax Bill
$941
Average Oktibbeha County Tax Bill
$1,912
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Pheba, Oktibbeha County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39755 | $230 | $542 | $941 | $1,597 | $2,103 |
Source: Ownwell