Tate County Property Taxes
The median property tax rate in Tate County is 1.33%, which is slightly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $82,683 in Tate County, the typical annual property tax bill amounts to $994, which is considerably lower than the national median of $2,690. Property taxes in Tate County are calculated based on the assessed value, which often falls below the actual market value due to various property tax exemptions such as the primary residence and agricultural exemptions. Understanding Tate County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Senatobia or another part of Tate County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tate County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Tate County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Tate County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Tate County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Tate County, Mississippi
Property taxes in Tate County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Tate County is 1.33%, which is higher than the U.S. national median of 0.99%. Local government entities within Tate County set these rates annually, and they can vary significantly between different areas within the county. Each year, Tate County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Tate County's effective property tax rate with other counties and the national median. For comparison, the city of Senatobia has one of the higher property tax rates in the region at 1.37%, while the city of Byhalia boasts one of the lowest at 1.11%. Analyzing how Tate County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Tate County Tax Rate
1.33%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tate County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | 1.11% | 1.11% | 1.11% | 1.11% | 1.11% |
| Coldwater | 0.63% | 0.94% | 1.24% | 1.51% | 1.80% |
| Como | 0.90% | 0.97% | 1.28% | 1.51% | 1.90% |
| Hernando | 0.95% | 1.03% | 1.33% | 1.51% | 1.99% |
| Holly Springs | 0.73% | 0.96% | 1.33% | 1.51% | 1.52% |
| Sarah | 0.87% | 0.94% | 1.17% | 1.51% | 1.60% |
| Senatobia | 0.68% | 1.03% | 1.37% | 1.62% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Tate County, Mississippi
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Tate. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Tate Appraisal District. The assessed value, however, 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. Assessment notices in Tate are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Byhalia has the highest median tax bill at $1,356, while Como has the lowest at $712. Being aware of these valuation processes in Tate will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Tate County Assessed Value
$82,683
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tate County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | $122,588 | $122,588 | $122,588 | $122,588 | $122,588 |
| Coldwater | $23,192 | $45,435 | $72,910 | $122,116 | $187,438 |
| Como | $22,494 | $35,888 | $57,944 | $104,028 | $133,780 |
| Hernando | $18,387 | $29,858 | $79,092 | $94,216 | $149,645 |
| Holly Springs | $28,412 | $41,369 | $60,056 | $96,346 | $138,103 |
| Sarah | $20,626 | $42,185 | $71,202 | $109,391 | $160,234 |
| Senatobia | $41,069 | $63,717 | $95,541 | $153,366 | $205,126 |
Source: Ownwell
Property Tax Bills Across Tate County, Mississippi
In Tate County, MS, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to determine the tax bill. Key factors influencing your tax bill include the market value of your home, any applicable exemptions, and the local tax rate. For homeowners in Tate County, the median home price is $82,683. Property tax bills can vary significantly, with the 25th percentile tax bill at $578 and the 75th percentile reaching $1,681. The highest median tax bill in the county is found in Byhalia at $1,356, while the lowest is in Como at $712. These property taxes fund essential services such as public schools, infrastructure, and emergency services. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Tate County Tax Bill
$994
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Tate County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Byhalia | $1,356 | $1,356 | $1,356 | $1,356 | $1,356 |
| Coldwater | $256 | $486 | $835 | $1,337 | $2,166 |
| Como | $260 | $426 | $712 | $1,178 | $1,801 |
| Hernando | $252 | $531 | $939 | $1,261 | $1,690 |
| Holly Springs | $365 | $504 | $721 | $981 | $1,512 |
| Sarah | $237 | $432 | $758 | $1,196 | $1,819 |
| Senatobia | $383 | $755 | $1,257 | $2,034 | $3,011 |
Source: Ownwell