Lena, Mississippi Property Taxes
The median property tax rate in Lena, MS is 1.03%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Lena, the typical annual property tax bill reaches $590, which is significantly below the national median of $2,690. Property taxes in Lena are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lena'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 Lena 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
Lena, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$567
$526
Ownwell’s Lena Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lena with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lena 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 Lena, Mississippi
Property taxes in Lena, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lena is 1.03%, slightly higher than the U.S. national median of 0.99%. Local government entities within Lena set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lena 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 Lena's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39094 zip code has the highest median property tax rate of 1.03%, while the 39094 zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Lena provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lena Tax Rate
1.03%
Average Scott County Tax Rate
1.02%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lena, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39094 | 0.42% | 0.78% | 1.03% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Lena, Mississippi
In Lena, 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 Scott 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 Lena, 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. The median home price in Lena is $55,050, with tax bills ranging from $308 at the 25th percentile to $1,780 at the 90th percentile. The highest and lowest median tax bills, both at $590, are found in the 39094 zip code. Being aware of these valuation processes in Lena helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lena Assessed Value
$55,050
Average Scott County Assessed Value
$53,585
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lena, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39094 | $13,512 | $28,805 | $55,050 | $98,635 | $155,186 |
Source: Ownwell
Property Tax Bills Across Lena, Mississippi
In Lena, located in Scott County, MS, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Lena is $55,050. Property taxes are determined by applying the local tax rate to the assessed value of the property. For homeowners in Lena, the tax bill can vary significantly, ranging from $308 at the 25th percentile to $1,780 at the 90th percentile. The highest median tax bill recorded in the area is $590, which is consistent across the zip code 39094. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Lena's property tax rates can be seen as relatively moderate. Understanding how these factors interplay helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Lena Tax Bill
$590
Average Scott County Tax Bill
$504
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Lena, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39094 | $134 | $308 | $590 | $1,067 | $1,780 |
Source: Ownwell