Prentiss County, Mississippi Property Taxes
The median property tax rate in Prentiss County is 1.25%, which is higher than the national median of 0.99% but slightly lower than the Mississippi state median of 1.31%. With a median home value of $31,610, the typical annual property tax bill in Prentiss County is approximately $259, considerably lower than the national median of $2,690. Property taxes in Prentiss County are calculated based on the assessed value, which is generally lower than the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding the specifics of Prentiss County's property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to significant annual savings. Whether you reside in Booneville or another part of Prentiss County, gaining comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prentiss County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$395
$367
Ownwell’s Prentiss County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Prentiss County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Prentiss County 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 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 Prentiss County, Mississippi
Property taxes in Prentiss County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Prentiss County is 1.25%, which is higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Prentiss County set these rates annually, and they can vary significantly between different areas within the county. Each year, Prentiss 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 Prentiss County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of New Site has one of the higher property tax rates in Mississippi at 1.86%, while the city of Baldwyn boasts one of the lowest at 0.97%. Analyzing how Prentiss County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Prentiss County Tax Rate
1.25%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prentiss County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | 0.44% | 0.57% | 0.97% | 1.06% | 1.87% |
| Booneville | 0.38% | 0.82% | 1.41% | 1.87% | 1.91% |
| Burnsville | 0.82% | 0.87% | 1.86% | 1.89% | 1.91% |
| Dennis | 0.26% | 0.41% | 1.05% | 1.86% | 1.89% |
| Marietta | 0.82% | 0.88% | 1.86% | 1.89% | 2.03% |
| New Site | 0.83% | 1.05% | 1.86% | 1.90% | 1.91% |
| Rienzi | 0.41% | 0.88% | 1.86% | 1.86% | 1.89% |
| Tishomingo | 0.83% | 0.91% | 1.86% | 1.88% | 1.91% |
| Wheeler | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Prentiss County, Mississippi
In Prentiss 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 Prentiss 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 Prentiss 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. For example, homeowners in Wheeler face the highest median tax bill at $1,691, while those in Burnsville have the lowest at $204. Being aware of these valuation processes in Prentiss County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Prentiss County, Mississippi
Source: Ownwell
$17,020
$44,330
$71,640
Average Prentiss County Assessed Value
$31,610
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prentiss County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | $3,052 | $8,492 | $32,265 | $64,425 | $104,246 |
| Booneville | $2,500 | $7,500 | $34,970 | $67,620 | $107,364 |
| Burnsville | $2,000 | $5,335 | $17,020 | $44,030 | $83,390 |
| Dennis | $10,609 | $34,712 | $71,640 | $104,800 | $125,533 |
| Marietta | $2,518 | $7,322 | $30,340 | $66,092 | $97,125 |
| New Site | $1,730 | $5,080 | $17,650 | $52,720 | $81,780 |
| Rienzi | $2,040 | $10,920 | $41,920 | $81,890 | $122,203 |
| Tishomingo | $1,471 | $6,178 | $27,320 | $65,230 | $95,677 |
| Wheeler | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Prentiss County, Mississippi
In Prentiss County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county tax assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to the assessed value to determine the tax bill. Factors such as property location, size, and condition can affect the assessed value. Homeowners in Prentiss County experience a range of tax bills. For instance, the 25th percentile tax bill is $94, while the 75th percentile tax bill is $588. At the 90th percentile, the tax bill can go up to $1,132. These figures indicate significant variability in property tax bills within the county. Comparatively, Prentiss County's tax bills are lower than the national median property tax rate of 0.99%. For example, the highest median tax bill in the county is $1,691 in Wheeler, while the lowest is $204 in Burnsville. This variability in tax bills can significantly impact homeowners' annual expenses, making it crucial for them to understand how their tax bill is determined.
Average Prentiss County Tax Bill
$259
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Prentiss County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | $32 | $82 | $241 | $490 | $815 |
| Booneville | $37 | $101 | $269 | $633 | $1,249 |
| Burnsville | $27 | $63 | $204 | $435 | $881 |
| Dennis | $163 | $210 | $274 | $1,153 | $1,370 |
| Marietta | $43 | $115 | $299 | $623 | $1,160 |
| New Site | $33 | $73 | $219 | $539 | $1,046 |
| Rienzi | $35 | $84 | $373 | $888 | $1,772 |
| Tishomingo | $26 | $78 | $299 | $639 | $1,040 |
| Wheeler | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell