Marks, Panola County, Mississippi Property Taxes
Median MARKS, MS effective property tax rate: 1.67%, significantly higher than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median MARKS, MS home value: $17,528
Median annual MARKS, MS tax bill: $771, $1,629 lower than the national median property tax bill of $2,400.
How are property taxes in Panola calculated?
Property taxes in MARKS, MS are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding MARKS’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in MARKS, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Marks, Panola County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.67%
Estimate Property Tax Bill
$293
$272
Property Tax Rates Across Marks, Panola County, Mississippi
Local government entities set tax rates, leading to significant variations within a state. Annually, each county, like Panola, estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the core of the annual process.
In Marks, located in Panola County, Mississippi, the effective property tax rate is 1.67%, which is notably higher than the national median property tax rate of 1.02%. Despite this, the property tax bill is often lower due to the assessed values of properties in the area. When comparing Marks' effective property tax rate to other cities in Mississippi, it stands out as higher than the state median. This highlights the importance of understanding local tax rates, as they can significantly impact property owners' annual expenses. By staying informed, property owners can make better financial decisions and potentially explore options for appealing or reducing their property tax obligations.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Marks Tax Rate
1.67%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Panola County Tax Rate
1.34%
Median Effective Mississippi Tax Rate
1.31%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Marks, Panola County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38646 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Marks, Panola County, Mississippi
When examining property taxes in Marks, Mississippi, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Panola County Tax Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Panola County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Marks. For example, the median home price in Marks is $17,528, with tax bills ranging significantly across the county. 38606 has the highest median home price at $120,000.
Property Tax Assessment Values Across Marks, Panola County, Mississippi
Source: Ownwell
$22,256
$37,947
$53,638
Median Marks Market Value
$17,528
Median Panola County Market Value
$42,358
Median Mississippi Market Value
$68,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Marks, Panola County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38646 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Marks, Panola County, Mississippi
In Marks, located in Panola County, Mississippi, property tax bills are determined by the assessed value of a home, which is a percentage of the market value. With a median home price of $17,528, homeowners in Marks experience property tax bills that vary significantly. The 25th percentile tax bill is $502, while the 75th percentile reaches $1,040, and the 90th percentile is $1,201. These figures highlight the disparity in tax burdens among homeowners. Compared to the national median property tax bill of $2,400, residents of Marks generally pay less, yet the impact on homeowners can still be significant, especially for those at the higher end of the tax spectrum.
Ownwell offers valuable assistance to homeowners in Marks by providing property tax appeal and exemption services. By leveraging expertise in local tax regulations and market conditions, Ownwell can help homeowners potentially reduce their tax bills. This service not only alleviates financial strain but also ensures homeowners are not overpaying on their property taxes, ultimately leading to greater savings and financial peace of mind.
Median Marks Tax Bill
$771
Median Panola County Tax Bill
$671
Median Mississippi Tax Bill
$854
Median United States Tax Bill
$2,400
Property Tax Bills Across Marks, Panola County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38646 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell