New Site, Prentiss County, Mississippi Property Taxes
The median property tax rate in NEW SITE, MS is 1.86%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in NEW SITE, the typical annual property tax bill reaches $219, which is significantly lower than the national median of $2,690. Property taxes in NEW SITE are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding NEW SITE'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 NEW SITE 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
New Site, Prentiss County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$328
$305
Ownwell’s NEW SITE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NEW SITE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NEW SITE 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 New Site, Prentiss County, Mississippi
Property taxes in New Site, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Site is 1.86%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Site set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Site 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 New Site's effective property tax rate to other areas in Prentiss County and the national median. For comparison, the zip code 38859 has the highest median property tax rate of 1.86%, while the same zip code also has the lowest median tax rate of 1.86%. Understanding how these areas compare with New Site provides valuable insights into the varying tax landscape across Prentiss County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Site Tax Rate
1.86%
Average Prentiss County Tax Rate
1.25%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Site, Prentiss County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38859 | 0.83% | 1.05% | 1.86% | 1.90% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across New Site, Prentiss County, Mississippi
In NEW SITE, 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 Prentiss 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 NEW SITE, 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 NEW SITE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $219.00, while the lowest is also $219.00, both in zip code 38859.
Property Tax Assessment Values Across New Site, Prentiss County, Mississippi
Source: Ownwell
$17,020
$44,330
$71,640
Average New Site Assessed Value
$17,650
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 New Site, Prentiss County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38859 | $1,730 | $5,080 | $17,650 | $52,720 | $81,780 |
Source: Ownwell
Property Tax Bills Across New Site, Prentiss County, Mississippi
In NEW SITE, property tax bills are calculated based on the assessed value of homes, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's market value. For homeowners in the 28117 area, the median home price stands at $17,650. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. The tax bill can vary significantly; for instance, the 25th percentile tax bill is $73, while the 75th percentile tax bill is $539, and the 90th percentile tax bill reaches up to $1,046. Homeowners in the region with the highest median tax bill pay around $219 annually, which is relatively modest compared to the national median property tax rate of 0.99%. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average New Site Tax Bill
$219
Average Prentiss County Tax Bill
$259
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across New Site, Prentiss County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38859 | $33 | $73 | $219 | $539 | $1,046 |
Source: Ownwell