Pontotoc County, Mississippi Property Taxes
The median property tax rate in Pontotoc County is 1.32%, slightly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Pontotoc County at $62,532, the typical annual property tax bill is $913, which is significantly lower than the national median of $2,690. Property taxes in Pontotoc County are determined based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Pontotoc 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 Pontotoc or another part of Pontotoc County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pontotoc County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$825
$766
Ownwell’s Pontotoc Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Pontotoc with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Pontotoc to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Pontotoc County, Mississippi
Property taxes in Pontotoc County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Pontotoc County is 1.32%, which is higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Pontotoc County set these rates annually, and they can vary significantly between different areas within the county. Each year, Pontotoc 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 Pontotoc County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of Sherman has one of the higher property tax rates in Mississippi at 1.65%, while the city of Tupelo boasts one of the lowest at 1.30%. Analyzing how Pontotoc County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Pontotoc County Tax Rate
1.32%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pontotoc County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Algoma | 1.28% | 1.29% | 1.36% | 1.92% | 1.92% |
| Belden | 1.28% | 1.28% | 1.30% | 1.43% | 1.92% |
| Blue Springs | 1.28% | 1.30% | 1.43% | 1.92% | 1.92% |
| Ecru | 1.28% | 1.31% | 1.55% | 1.92% | 2.32% |
| Etta | N/A | N/A | N/A | N/A | N/A |
| Houlka | 1.28% | 1.29% | 1.34% | 1.92% | 1.92% |
| New Albany | N/A | N/A | N/A | N/A | N/A |
| Okolona | 1.28% | 1.29% | 1.38% | 1.92% | 1.92% |
| Oxford | 1.32% | 1.34% | 1.59% | 1.92% | 1.93% |
| Pontotoc | 1.28% | 1.28% | 1.31% | 1.91% | 1.92% |
| Randolph | 1.28% | 1.29% | 1.35% | 1.92% | 1.92% |
| Shannon | 1.28% | 1.28% | 1.32% | 1.92% | 1.92% |
| Sherman | 1.63% | 1.63% | 1.65% | 2.45% | 2.45% |
| Thaxton | 1.28% | 1.29% | 1.33% | 1.72% | 1.92% |
| Tupelo | 1.28% | 1.28% | 1.30% | 1.91% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Pontotoc County, Mississippi
In Pontotoc 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 Pontotoc 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 Pontotoc 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. In Pontotoc County, the city with the highest median tax bill is Algoma at $1,245, while Okolona has the lowest median tax bill at $349. 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 Pontotoc County, Mississippi
Source: Ownwell
$22,579
$52,295
$82,010
Average Pontotoc County Assessed Value
$62,532
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pontotoc County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Algoma | $30,322 | $56,718 | $82,010 | $139,181 | $213,579 |
| Belden | $17,348 | $38,938 | $70,912 | $127,861 | $187,860 |
| Blue Springs | $12,900 | $22,837 | $50,382 | $103,542 | $163,502 |
| Ecru | $12,944 | $21,943 | $51,709 | $93,885 | $154,439 |
| Etta | N/A | N/A | N/A | N/A | N/A |
| Houlka | $13,936 | $19,964 | $44,000 | $75,770 | $135,192 |
| New Albany | N/A | N/A | N/A | N/A | N/A |
| Okolona | $8,468 | $11,452 | $22,579 | $48,162 | $59,683 |
| Oxford | $15,112 | $21,877 | $46,509 | $64,810 | $97,457 |
| Pontotoc | $15,941 | $35,280 | $64,871 | $112,621 | $172,458 |
| Randolph | $15,004 | $29,573 | $59,421 | $93,243 | $138,528 |
| Shannon | $10,769 | $22,426 | $43,401 | $84,351 | $129,878 |
| Sherman | $24,188 | $42,182 | $73,530 | $94,916 | $167,804 |
| Thaxton | $15,213 | $34,045 | $63,607 | $116,250 | $186,482 |
| Tupelo | $14,081 | $32,132 | $60,218 | $111,256 | $180,673 |
Source: Ownwell
Property Tax Bills Across Pontotoc County, Mississippi
In Pontotoc County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county uses an assessment ratio to determine this value, and then applies the local property tax rate to calculate the tax bill. Homeowners in Pontotoc County see a range of tax bills, from the 25th percentile at $497 to the 75th percentile at $1,531, with the 90th percentile reaching up to $2,362. Several factors influence the final tax bill, including the property's market value, assessment ratio, and the local tax rate. These elements combined determine the financial burden on homeowners. For instance, in the city of Algoma within Pontotoc County, the highest median tax bill is $1,245, while Okolona has the lowest at $349. Compared to the national median property tax rate of 0.99%, Pontotoc County offers a varied landscape of tax obligations, affecting homeowners differently based on their specific property assessments and locations.
Average Pontotoc County Tax Bill
$913
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Pontotoc County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Algoma | $815 | $925 | $1,245 | $1,812 | $2,960 |
| Belden | $267 | $582 | $1,026 | $1,713 | $2,498 |
| Blue Springs | $215 | $370 | $805 | $1,547 | $2,292 |
| Ecru | $203 | $352 | $808 | $1,438 | $2,324 |
| Etta | N/A | N/A | N/A | N/A | N/A |
| Houlka | $205 | $319 | $695 | $1,060 | $1,809 |
| New Albany | N/A | N/A | N/A | N/A | N/A |
| Okolona | $118 | $192 | $349 | $672 | $1,079 |
| Oxford | $268 | $420 | $706 | $970 | $1,359 |
| Pontotoc | $252 | $539 | $934 | $1,566 | $2,366 |
| Randolph | $235 | $443 | $846 | $1,330 | $1,964 |
| Shannon | $169 | $344 | $615 | $1,126 | $1,902 |
| Sherman | $493 | $772 | $1,218 | $1,896 | $2,900 |
| Thaxton | $240 | $494 | $897 | $1,588 | $2,579 |
| Tupelo | $215 | $462 | $864 | $1,579 | $2,444 |
Source: Ownwell