Glendora, Mississippi Property Taxes
The median property tax rate in Glendora, MS is 1.71%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Glendora, the typical annual property tax bill reaches $473, which is below the national median of $2,690. Property taxes in Glendora are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glendora'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 Glendora 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
Glendora, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$625
Ownwell’s Glendora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glendora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glendora 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 Glendora, Mississippi
Property taxes in Glendora, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glendora is 1.71%, significantly higher than the U.S. national median of 0.99%. Local government entities within Glendora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glendora 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 Glendora's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38928 zip code has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these cities compare with Glendora provides valuable insights into the varying tax landscape across Tallahatchie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glendora Tax Rate
1.71%
Average Tallahatchie County Tax Rate
1.71%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glendora, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38928 | 0.22% | 0.73% | 1.71% | 1.71% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Glendora, Mississippi
In Glendora, 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 Tallahatchie 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 Glendora, 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 Glendora 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 $473, found in the zip code 38928.
Average Glendora Assessed Value
$36,534
Average Tallahatchie County Assessed Value
$42,376
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glendora, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38928 | $6,140 | $13,483 | $36,534 | $92,152 | $260,278 |
Source: Ownwell
Property Tax Bills Across Glendora, Mississippi
In Glendora, Tallahatchie County, MS, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value typically represents a percentage of the property's market value. Various factors such as the property's location, size, and condition are taken into account during assessment. The tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Glendora, the property tax bill can vary significantly. The 25th percentile tax bill is $113, while the 75th percentile tax bill rises to $1,576. At the 90th percentile, homeowners may see a tax bill as high as $3,965. These figures highlight the range of property tax burdens within the area. Compared to the national median property tax rate of 0.99%, Glendora's rates reflect the local economic conditions and property values, influencing the financial obligations of homeowners in the region.
Average Glendora Tax Bill
$473
Average Tallahatchie County Tax Bill
$479
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Glendora, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38928 | $42 | $113 | $473 | $1,576 | $3,965 |
Source: Ownwell