Cleveland, Mississippi Property Taxes
The median property tax rate in Cleveland, MS is 1.09%, 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 Cleveland at $62,272, the typical annual property tax bill amounts to $771, which is significantly below the national median of $2,690. Property taxes in Cleveland are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Cleveland's property tax system and exploring available exemptions, homeowners can identify opportunities for reductions and achieve substantial annual savings. Whether you're in the heart of Cleveland or another part of the city, gaining insight into the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cleveland, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$679
$630
Ownwell’s Cleveland Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cleveland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cleveland to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, forms the basis for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Cleveland, Mississippi
Property taxes in Cleveland, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cleveland is 1.09%, higher than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Cleveland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cleveland 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 Cleveland's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38732 zip code has the highest median property tax rate of 1.09%, while the 38732 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Cleveland provides valuable insights into the varying tax landscape across Sunflower County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cleveland Tax Rate
1.09%
Average Sunflower County Tax Rate
1.85%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cleveland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38732 | 0.52% | 0.83% | 1.09% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Cleveland, Mississippi
In Cleveland, 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 Sunflower 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 Cleveland, 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 Cleveland 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 $771.00 in the 38732 zip code, while the lowest median tax bill is also $771.00 in the same zip code.
Average Cleveland Assessed Value
$62,272
Average Sunflower County Assessed Value
$50,210
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cleveland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38732 | $12,056 | $21,215 | $62,272 | $136,994 | $213,260 |
Source: Ownwell
Property Tax Bills Across Cleveland, Mississippi
In Cleveland, MS, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the home. For instance, with a median home price of $62,272, homeowners can expect their property tax bill to vary significantly depending on various factors such as location and property characteristics. The 25th percentile tax bill is around $268, while the 75th percentile tax bill can go up to $1,496. For those at the 90th percentile, the tax bill could reach as high as $2,532. These figures highlight the range of property tax obligations that homeowners might face. Comparatively, the highest and lowest median tax bills in the county are both $771, indicating a uniformity in tax assessments within certain areas. Understanding these factors helps homeowners anticipate their financial responsibilities and budget accordingly, ensuring they are prepared for their annual property tax obligations.
Average Cleveland Tax Bill
$771
Average Sunflower County Tax Bill
$885
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Cleveland, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38732 | $114 | $268 | $771 | $1,496 | $2,532 |
Source: Ownwell