Houlka, Mississippi Property Taxes
The median property tax rate in Houlka, MS is 1.34%, higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $44,000 in Houlka, the typical annual property tax bill is $695, which is below the national median of $2,690. Property taxes in Houlka are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Houlka'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 Houlka 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
Houlka, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$590
Ownwell’s Houlka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Houlka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Houlka 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 Houlka, Mississippi
Property taxes in Houlka, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Houlka is 0.52%, significantly lower than both the Mississippi state median of 0.65% and the U.S. national median of 0.99%. Local government entities within Houlka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Houlka 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 Houlka's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38850 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Houlka 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 Houlka Tax Rate
1.34%
Average Pontotoc County Tax Rate
1.32%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Houlka, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38850 | 1.28% | 1.29% | 1.34% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Houlka, Mississippi
In Houlka, 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 Houlka, 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 Houlka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38850 has the highest and lowest median tax bill, both at $695.
Average Houlka Assessed Value
$44,000
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 Houlka, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38850 | $13,936 | $19,964 | $44,000 | $75,770 | $135,192 |
Source: Ownwell
Property Tax Bills Across Houlka, Mississippi
In Houlka, located in Pontotoc County, MS, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value typically reflects a percentage of the home's market value, which in Houlka has a median home price of $44,000. The local tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including the home's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Houlka can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $319, while the 75th percentile tax bill is $1060, and at the 90th percentile, it reaches $1809. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly. Compared to the national median property tax rate of 0.99%, Houlka's rates provide a unique perspective on property tax obligations.
Average Houlka Tax Bill
$695
Average Pontotoc County Tax Bill
$913
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Houlka, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38850 | $205 | $319 | $695 | $1,060 | $1,809 |
Source: Ownwell