Rienzi, Mississippi Property Taxes
The median property tax rate in Rienzi, MS is 1.86%, significantly higher than both the national median of 0.99% and Mississippi's state median of 1.31%. With a median home value of $41,920 in Rienzi, the typical annual property tax bill amounts to $373, which is notably lower than the national median of $2,690. Property taxes in Rienzi are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Rienzi's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're located in the heart of Rienzi or another part of Prentiss County, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Rienzi, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$780
$724
Ownwell’s Rienzi Property Tax Bill Calculator empowers homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Rienzi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rienzi to provide an accurate estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities, allowing you to plan effectively. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value, determined by Prentiss County, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Rienzi, Mississippi
Property taxes in Rienzi, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rienzi is 1.86%, significantly higher than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Rienzi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rienzi 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 Rienzi's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38865 zip code 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 cities compare with Rienzi 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 Rienzi 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 Rienzi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38865 | 0.41% | 0.88% | 1.86% | 1.86% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Rienzi, Mississippi
In Rienzi, 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 Rienzi, 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 Rienzi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rienzi is $373.00 in the 38865 zip code, while the lowest median tax bill is also $373.00 in the same zip code.
Average Rienzi Assessed Value
$41,920
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 Rienzi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38865 | $2,040 | $10,920 | $41,920 | $81,890 | $122,203 |
Source: Ownwell
Property Tax Bills Across Rienzi, Mississippi
In Rienzi, located in Prentiss County, MS, property tax bills are calculated based on the property's assessed value, which is typically a percentage of its market value. The median home price in Rienzi is $41,920. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property location, improvements, and market conditions. For homeowners, the tax bill can vary widely. For instance, the 25th percentile tax bill is $84, while the 75th percentile tax bill is $888, and the 90th percentile tax bill reaches $1,772. These figures highlight the range of tax burdens faced by homeowners, influenced by the specific characteristics and assessed values of their properties. In comparison to the national median property tax rate of 0.99%, Rienzi's tax bills can be relatively modest or significant, depending on the assessed value and applicable exemptions. This variability affects homeowners' financial planning and their overall cost of owning property in the region.
Average Rienzi Tax Bill
$373
Average Prentiss County Tax Bill
$259
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Rienzi, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38865 | $35 | $84 | $373 | $888 | $1,772 |
Source: Ownwell