Panola County Property Taxes
The median property tax rate in Panola County is 1.34%, which is higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Panola County at $42,358, the typical annual property tax bill is $671, notably lower than the national median of $2,690. Property taxes in Panola County are calculated based on the tax assessed value, which is typically lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Panola 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 Batesville or another part of Panola County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Panola County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$568
Ownwell’s Panola County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Panola County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Panola County to estimate your property tax bill. This tool provides valuable insights into potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more localized informational page. Your property’s assessed value is the value assigned to your property by your county for property tax calculations, taking into account any exemptions you may have on your property.
Property Tax Rates Across Panola County, Mississippi
Property taxes in Panola County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Panola County is 1.34%, which is higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Panola County set these rates annually, and they can vary significantly between different areas within the county. Each year, Panola 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. The following data compares Panola County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of Water Valley has one of the higher property tax rates in Mississippi at 1.99%, while the city of Courtland boasts one of the lowest at 1.14%. Analyzing how Panola County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Panola County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Panola County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batesville | 0.83% | 0.96% | 1.37% | 1.99% | 2.50% |
| Como | 0.86% | 1.01% | 1.91% | 1.94% | 1.98% |
| Courtland | 0.88% | 0.92% | 1.14% | 1.99% | 1.99% |
| Crenshaw | 0.89% | 1.25% | 1.94% | 2.49% | 2.50% |
| Enid | 0.70% | 1.01% | 1.99% | 1.99% | 1.99% |
| Marks | 1.40% | 1.50% | 1.67% | 1.84% | 1.94% |
| Pope | 0.85% | 0.93% | 1.24% | 1.99% | 1.99% |
| Sarah | 0.89% | 0.98% | 1.32% | 1.94% | 1.95% |
| Sardis | 0.87% | 0.96% | 1.35% | 1.94% | 1.99% |
| Senatobia | 1.02% | 1.06% | 1.14% | 1.21% | 1.26% |
| Water Valley | 0.91% | 0.92% | 1.99% | 1.99% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Panola County, Mississippi
In Panola County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. 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 Panola 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 Panola 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. For example, in Panola County, the highest median tax bill is in Senatobia at $2,941, while the lowest is in Water Valley at $406. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Panola County, Mississippi
Source: Ownwell
$17,528
$56,624
$95,720
Average Panola County Assessed Value
$42,358
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Panola County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batesville | $11,236 | $20,773 | $53,638 | $123,248 | $190,735 |
| Como | $10,109 | $15,086 | $30,912 | $75,741 | $161,202 |
| Courtland | $11,478 | $17,823 | $45,227 | $85,339 | $154,112 |
| Crenshaw | $8,318 | $11,204 | $22,256 | $51,887 | $89,551 |
| Enid | $12,077 | $15,590 | $43,044 | $104,236 | $165,984 |
| Marks | $16,375 | $16,808 | $17,528 | $41,304 | $55,570 |
| Pope | $10,925 | $16,669 | $33,977 | $82,030 | $137,815 |
| Sarah | $16,432 | $22,346 | $32,301 | $66,172 | $116,326 |
| Sardis | $11,357 | $18,181 | $35,113 | $80,284 | $150,345 |
| Senatobia | $27,234 | $52,916 | $95,720 | $239,290 | $325,432 |
| Water Valley | $11,321 | $17,549 | $24,274 | $66,794 | $124,232 |
Source: Ownwell
Property Tax Bills Across Panola County, Mississippi
In Panola County, MS, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the home. Various factors influence this valuation, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Panola County experience a range of property tax bills. For example, the 25th percentile tax bill is $269, while the 75th percentile reaches $1,492, and the 90th percentile can go up to $2,453. These figures indicate that property taxes can vary significantly within the county. The highest median tax bill in the area is found in Senatobia at $2,941, whereas Water Valley has the lowest median tax bill at $406. These variations highlight the importance of understanding how property assessments and local tax rates impact overall tax obligations for homeowners in Panola County.
Average Panola County Tax Bill
$671
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Panola County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Batesville | $149 | $305 | $913 | $1,787 | $2,750 |
| Como | $142 | $234 | $483 | $1,254 | $2,375 |
| Courtland | $141 | $255 | $634 | $1,289 | $1,946 |
| Crenshaw | $133 | $201 | $411 | $1,034 | $1,760 |
| Enid | $236 | $378 | $851 | $1,509 | $2,080 |
| Marks | $341 | $502 | $771 | $1,040 | $1,201 |
| Pope | $158 | $248 | $467 | $1,097 | $1,859 |
| Sarah | $216 | $345 | $574 | $961 | $1,589 |
| Sardis | $162 | $266 | $579 | $1,191 | $2,238 |
| Senatobia | $1,346 | $1,944 | $2,941 | $3,938 | $4,536 |
| Water Valley | $186 | $226 | $406 | $805 | $1,927 |
Source: Ownwell