Enid, Panola County, Mississippi Property Taxes
The median property tax rate in Enid, Mississippi is 1.99%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Enid, the typical annual property tax bill reaches $851, which is significantly lower than the national median of $2,690. Property taxes in Enid 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 Enid'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 Enid 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
Enid, Panola County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$857
$795
Ownwell’s Enid Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Enid with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Enid 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 Enid, Panola County, Mississippi
Property taxes in Enid, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Enid is 1.99%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Enid set these rates annually, and they can vary significantly across different neighborhoods. Each year, Enid 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 Enid's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38927 zip code has the highest median property tax rate of 1.99%, while the same zip code also has the lowest median tax rate of 1.99%. Understanding how these cities compare with Enid 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 Enid Tax Rate
1.99%
Average Panola County Tax Rate
1.34%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Enid, Panola County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38927 | 0.70% | 1.01% | 1.99% | 1.99% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Enid, Panola County, Mississippi
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Enid, Mississippi. 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 local 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 Enid, 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. The median home price in Enid is $43,044, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $378, while the 75th percentile tax bill is $1,509. 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 Enid helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Enid, Panola County, Mississippi
Source: Ownwell
$22,256
$37,947
$53,638
Average Enid Assessed Value
$43,044
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 Enid, Panola County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38927 | $12,077 | $15,590 | $43,044 | $104,236 | $165,984 |
Source: Ownwell
Property Tax Bills Across Enid, Panola County, Mississippi
In Enid, Panola County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property, reflecting its worth in the current real estate market. The tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Enid, the median home price is $43,044. Tax bills can vary significantly, with the 25th percentile tax bill at $378 and the 75th percentile at $1,509. At the higher end, the 90th percentile tax bill reaches $2,080. Comparatively, the national median property tax rate is 0.99%, highlighting that property taxes in Enid can be relatively moderate or substantial depending on the assessed value and specific tax rates applied. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the community and homeowners' financial responsibilities.
Average Enid Tax Bill
$851
Average Panola County Tax Bill
$671
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Enid, Panola County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38927 | $236 | $378 | $851 | $1,509 | $2,080 |
Source: Ownwell