Golden, Mississippi Property Taxes
The median property tax rate in Golden, Mississippi, is 0.85%, which is lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $56,530 in Golden, the typical annual property tax bill is $503, significantly below the national median of $2,690. Property taxes in Golden are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Golden'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 Golden or elsewhere in Tishomingo County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Golden, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$481
$446
Ownwell’s Golden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Golden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Golden 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 Golden, Mississippi
Property taxes in Golden, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Golden is 0.85%, slightly lower than the U.S. national median of 0.99%. Local government entities within Golden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Golden 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 Golden's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 38847 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Golden provides valuable insights into the varying tax landscape across Tishomingo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Golden Tax Rate
0.85%
Average Tishomingo County Tax Rate
0.89%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Golden, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38847 | 0.39% | 0.62% | 0.85% | 1.53% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Golden, Mississippi
In Golden, 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 Tishomingo 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 Golden, 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 Golden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Golden is $503 in the 38847 zip code, while the lowest median tax bill is also $503 in the same zip code.
Average Golden Assessed Value
$56,530
Average Tishomingo County Assessed Value
$60,500
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Golden, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38847 | $15,234 | $36,790 | $56,530 | $91,240 | $155,852 |
Source: Ownwell
Property Tax Bills Across Golden, Mississippi
In Golden, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. For homeowners in Golden, the median home price stands at $56,530. The 25th percentile tax bill is $305, while the 75th percentile tax bill is $915, and the 90th percentile tax bill reaches $1,739. This range indicates that property taxes can vary significantly depending on the specific characteristics of each property. Compared to the national median property tax rate of 0.99%, the property tax rates in Golden can have a noticeable impact on homeowners, affecting their annual expenses and potentially influencing decisions regarding property investments and home improvements.
Average Golden Tax Bill
$503
Average Tishomingo County Tax Bill
$531
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Golden, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38847 | $139 | $305 | $503 | $915 | $1,739 |
Source: Ownwell