Okolona, Pontotoc County, Mississippi Property Taxes
Median Okolona, MS effective property tax rate: 1.38%, significantly higher than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median Okolona, MS home value: $22,579
Median annual Okolona, MS tax bill: $349, $2,051 lower than the national median property tax bill of $2,400.
How are property taxes in Pontotoc calculated?
Property taxes in Okolona, 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 Okolona’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Okolona, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Okolona, Pontotoc County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.38%
Estimate Property Tax Bill
$312
$289
Property Tax Rates Across Okolona, Pontotoc County, Mississippi
Local government entities are responsible for setting tax rates, which can vary widely within Mississippi. Each year, counties estimate their budget needs to provide essential services and divide this by the total value of all taxable property within their jurisdiction to determine the property tax rate. While votes and laws influence the setting of tax rates and budgets, this is essentially the annual process.
In Okolona, located in Chickasaw County, the effective property tax rate offers an interesting comparison to other cities within Mississippi and the broader U.S. Okolona's property tax rate stands out, especially when compared to the national median property tax rate of 1.02%. The median property tax rate in Mississippi is 1.38%, which is higher than the national median, reflecting the diverse economic and budgetary needs across the state. This highlights the importance of understanding how property taxes can vary not just from state to state, but even within different regions of a single state. As property taxes can significantly impact homeowners, staying informed about local tax rates is crucial for effective financial planning.
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 Okolona Tax Rate
1.38%
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 Pontotoc County Tax Rate
1.32%
Median Effective Mississippi Tax Rate
1.31%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Okolona, Pontotoc County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38860 | 1.28% | 1.29% | 1.38% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Okolona, Pontotoc County, Mississippi
When examining property taxes in Okolona, 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 Pontotoc 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 Pontotoc 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 Okolona.
For example, the median home price in Okolona is $22,579, with tax bills ranging significantly across the county. Zip code 38860 has the highest median home price at $22,579.
Property Tax Assessment Values Across Okolona, Pontotoc County, Mississippi
Source: Ownwell
$22,579
$52,295
$82,010
Median Okolona Market Value
$22,579
Median Pontotoc County Market Value
$62,532
Median Mississippi Market Value
$68,000
Median United States Market Value
$235,294
Property Tax Assessment Values Across Okolona, Pontotoc County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38860 | $8,468 | $11,452 | $22,579 | $48,162 | $59,683 |
Source: Ownwell
Property Tax Bills Across Okolona, Pontotoc County, Mississippi
Median Okolona Tax Bill
$349
Median Pontotoc County Tax Bill
$913
Median Mississippi Tax Bill
$854
Median United States Tax Bill
$2,400
Property Tax Bills Across Okolona, Pontotoc County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38860 | $118 | $192 | $349 | $672 | $1,079 |
Source: Ownwell