Ecru, Mississippi Property Taxes
The median property tax rate in Ecru, MS is 1.55%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Ecru at $51,709, the typical annual property tax bill reaches $808, which is significantly lower than the national median of $2,690. Property taxes in Ecru 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 Ecru'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 Ecru or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ecru, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Ecru Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ecru with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ecru 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 Ecru, Mississippi
Property taxes in Ecru, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ecru is 1.55%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Ecru set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ecru 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 Ecru's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 38841 has the highest median property tax rate of 1.55%, while the lowest median tax rate is also 1.55% in the same zip code. Understanding how these areas compare with Ecru provides valuable insights into the varying tax landscape across Pontotoc County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ecru Tax Rate
1.55%
Average Pontotoc County Tax Rate
1.32%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ecru, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38841 | 1.28% | 1.31% | 1.55% | 1.92% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Ecru, Mississippi
In Ecru, 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 Pontotoc 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 Ecru, 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. For instance, the median home price is $51,709, with tax bills ranging from $352 at the 25th percentile to $2,324 at the 90th percentile. Being aware of these valuation processes in Ecru helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ecru Assessed Value
$51,709
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 Ecru, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38841 | $12,944 | $21,943 | $51,709 | $93,885 | $154,439 |
Source: Ownwell
Property Tax Bills Across Ecru, Mississippi
In Ecru, property tax bills are calculated based on the assessed value of a home, which is determined by the Pontotoc County tax assessor. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Ecru, the median home price is $51,709. Property tax bills can vary significantly, with the 25th percentile at $352 and the 75th percentile reaching $1,438. At the 90th percentile, the tax bill can climb to $2,324. The highest median tax bill in the area is $808, which is higher than the national median property tax rate of 0.99%. These property tax bills impact homeowners by contributing to their annual expenses, influencing their overall cost of living, and potentially affecting decisions about property investments and home ownership.
Average Ecru Tax Bill
$808
Average Pontotoc County Tax Bill
$913
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Ecru, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38841 | $203 | $352 | $808 | $1,438 | $2,324 |
Source: Ownwell