Mendenhall, Mississippi Property Taxes
The median property tax rate in Mendenhall, MS is 0.82%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $85,620 in Mendenhall, the typical annual property tax bill is around $634, significantly below the national median of $2,690. Property taxes in Mendenhall are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Mendenhall's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mendenhall or another part of the city, gaining knowledge of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mendenhall, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$702
$652
Ownwell’s Mendenhall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mendenhall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mendenhall 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 Mendenhall, Mississippi
Property taxes in Mendenhall, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mendenhall is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Mendenhall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mendenhall 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 Mendenhall's effective property tax rate to other areas in Rankin County and the national median. For comparison, the zip code 39114 has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Mendenhall provides valuable insights into the varying tax landscape across Rankin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mendenhall Tax Rate
0.82%
Average Rankin County Tax Rate
0.91%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mendenhall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39114 | 0.31% | 0.57% | 0.82% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Mendenhall, Mississippi
In Mendenhall, 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 Rankin 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 Mendenhall, 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 Mendenhall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $634.00, found in the zip code 39114.
Average Mendenhall Assessed Value
$85,620
Average Rankin County Assessed Value
$136,735
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mendenhall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39114 | $24,620 | $43,268 | $85,620 | $142,252 | $228,359 |
Source: Ownwell
Property Tax Bills Across Mendenhall, Mississippi
In Mendenhall, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $85,620 in Mendenhall, homeowners can expect their property tax bills to vary significantly. The tax bill for the 25th percentile is around $304, while the 75th percentile tax bill is approximately $1,332. At the 90th percentile, the tax bill can reach up to $2,214. These amounts are influenced by several factors, including the home's location within Rankin County, any applicable exemptions, and the specific tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, Mendenhall's property tax rates can be more or less burdensome depending on individual circumstances. For homeowners, understanding these factors is crucial as property taxes significantly impact annual housing costs and overall affordability.
Average Mendenhall Tax Bill
$634
Average Rankin County Tax Bill
$1,263
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mendenhall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39114 | $135 | $304 | $634 | $1,332 | $2,214 |
Source: Ownwell