Ruleville, Mississippi Property Taxes
The median property tax rate in Ruleville, MS is 3.13%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Ruleville at $49,164, the typical annual property tax bill reaches $1,120, surpassing the national median of $2,690. Property taxes in Ruleville 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 Ruleville'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 Ruleville 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
Ruleville, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.13%
Estimate Property Tax Bill
$1,539
Ownwell’s Ruleville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ruleville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruleville 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 Ruleville, Mississippi
Property taxes in Ruleville, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ruleville is 0.83%, lower than the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Ruleville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruleville 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 Ruleville's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38771 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Ruleville 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 Ruleville Tax Rate
3.13%
Average Sunflower County Tax Rate
1.85%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruleville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38771 | 0.93% | 1.69% | 3.13% | 3.13% | 3.13% |
Source: Ownwell
Property Tax Assessment Values Across Ruleville, Mississippi
In Ruleville, 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 Ruleville, 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. The median home price in Ruleville is $49,164, and understanding the distinction between these valuation concepts can help property owners navigate their tax responsibilities. For instance, the 25th percentile tax bill is $695, while the 75th percentile is $1,594, and the 90th percentile tax bill reaches $2,272. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ruleville Assessed Value
$49,164
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 Ruleville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38771 | $20,323 | $36,763 | $49,164 | $67,815 | $108,766 |
Source: Ownwell
Property Tax Bills Across Ruleville, Mississippi
In Ruleville, located in Sunflower County, MS, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, and this percentage can vary based on property type and usage. Homeowners in Ruleville should note that the median home price is $49,164, which influences the assessed value and, consequently, the tax bill. Factors such as property improvements, changes in market conditions, and local government budgets can affect the assessed value and tax rate. For example, the 25th percentile tax bill is $695, while the 75th percentile tax bill reaches $1,594, indicating a significant variation based on property value and other factors. The highest median tax bill in the area is $1,120, which is notably higher than the national median property tax rate of 0.99%. These property tax bills can significantly impact homeowners, affecting their annual expenses and potentially influencing decisions about property improvements and investments.
Average Ruleville Tax Bill
$1,120
Average Sunflower County Tax Bill
$885
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruleville, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38771 | $359 | $695 | $1,120 | $1,594 | $2,272 |
Source: Ownwell