Courtland, Mississippi Property Taxes
The median property tax rate in Courtland, MS is 1.14%, which is higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Courtland at $45,227, the typical annual property tax bill is $634, significantly below the national median of $2,690. Property taxes in Courtland are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a solid understanding of Courtland'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 Courtland or another part of Panola County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Courtland, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$516
$478
Ownwell’s Courtland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Courtland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Courtland 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 Panola County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Courtland, Mississippi
Property taxes in Courtland, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Courtland is 1.14%, which is significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Courtland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Courtland 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 Courtland's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38620 zip code has both the highest and lowest median property tax rate of 1.14%. Understanding how these areas compare with Courtland provides valuable insights into the varying tax landscape across Panola County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Courtland Tax Rate
1.14%
Average Panola County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Courtland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38620 | 0.88% | 0.92% | 1.14% | 1.99% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Courtland, Mississippi
In Courtland, 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 Panola 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 Courtland, 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 Courtland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Courtland, the zip code with the highest median tax bill is 38620, with a median tax bill of $634.00. The same zip code also has the lowest median tax bill at $634.00.
Average Courtland Assessed Value
$45,227
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 Courtland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38620 | $11,478 | $17,823 | $45,227 | $85,339 | $154,112 |
Source: Ownwell
Property Tax Bills Across Courtland, Mississippi
In Courtland, Panola County, MS, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Factors such as the market price of the property, the local tax rate, and any applicable exemptions play significant roles in determining the final tax bill. For instance, with a median home price of $45,227, homeowners can expect their property tax bills to vary. The 25th percentile tax bill is around $255, while those in the 75th percentile might pay approximately $1,289. Homeowners at the 90th percentile could see tax bills as high as $1,946. Compared to the national median property tax rate of 0.99%, Courtland's property taxes can be relatively manageable, though they still represent a notable expense for homeowners. Understanding these factors helps residents anticipate their annual property tax obligations and plan their finances accordingly, ensuring they are prepared for the costs associated with homeownership in Panola County.
Average Courtland Tax Bill
$634
Average Panola County Tax Bill
$671
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Courtland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38620 | $141 | $255 | $634 | $1,289 | $1,946 |
Source: Ownwell