Moorhead, Mississippi Property Taxes
The median property tax rate in Moorhead, MS is 2.41%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $40,876 in Moorhead, the typical annual property tax bill amounts to $755, which is lower than the national median of $2,690. Property taxes in Moorhead are calculated based on the assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Moorhead'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 Moorhead 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
Moorhead, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.41%
Estimate Property Tax Bill
$985
Ownwell’s Moorhead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moorhead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moorhead 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 Moorhead, Mississippi
Property taxes in Moorhead, Mississippi, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Moorhead is 2.41%, significantly higher than the national median of 0.99%. Local government entities in Moorhead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moorhead 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 Moorhead's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 38761 has the highest median property tax rate of 2.41%, while the same zip code also has the lowest median tax rate of 2.41%. Understanding how these cities compare with Moorhead 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 Moorhead Tax Rate
2.41%
Average Sunflower County Tax Rate
1.85%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moorhead, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38761 | 0.80% | 1.70% | 2.41% | 3.16% | 3.16% |
Source: Ownwell
Property Tax Assessment Values Across Moorhead, Mississippi
In Moorhead, 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 Moorhead, 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 Moorhead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $755.00 in the 38761 zip code.
Average Moorhead Assessed Value
$40,876
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 Moorhead, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38761 | $11,097 | $23,129 | $40,876 | $56,984 | $89,737 |
Source: Ownwell
Property Tax Bills Across Moorhead, Mississippi
In Moorhead, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, which is applied to the assessed value, determines the total tax bill. For instance, with a median home price of $40,876, homeowners can expect varying tax bills depending on the specific assessed value and applicable rate. Several factors influence the final tax bill, including property location, improvements made, and any applicable exemptions. In Moorhead, the tax bill can range significantly; the 25th percentile tax bill is around $378, while the 75th percentile reaches $1,272, and the 90th percentile can be as high as $1,859. These property tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Comparing these figures to the national median property tax rate of 0.99%, Moorhead's property taxes can be seen as relatively moderate, providing essential public services while reflecting the community's economic conditions.
Average Moorhead Tax Bill
$755
Average Sunflower County Tax Bill
$885
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Moorhead, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38761 | $187 | $378 | $755 | $1,272 | $1,859 |
Source: Ownwell