Sarah, Mississippi Property Taxes
The median property tax rate in SARAH, MS is 1.25%, which is higher than the national median of 0.99% but slightly lower than the Mississippi state median of 1.31%. With a median home value of $46,067 in SARAH, the typical annual property tax bill is $817, which is significantly below the national median of $2,690. Property taxes in SARAH are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding SARAH'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 SARAH 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
Sarah, Mississippi 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 SARAH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SARAH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SARAH 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 Sarah, Mississippi
Property taxes in SARAH, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in SARAH is 1.25%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within SARAH set these rates annually, and they can vary significantly across different neighborhoods. Each year, SARAH 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 SARAH's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38665 zip code has the highest median property tax rate of 1.25%, while the same 38665 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with SARAH provides valuable insights into the varying tax landscape across Tunica County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sarah Tax Rate
1.25%
Average Tunica County Tax Rate
1.21%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sarah, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38665 | 1.02% | 1.02% | 1.25% | 1.56% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Sarah, Mississippi
In SARAH, 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 Tunica 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 SARAH, 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 SARAH helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 38665 with a bill of $817, while the zip code with the lowest median tax bill is also 38665 with the same amount.
Average Sarah Assessed Value
$46,067
Average Tunica County Assessed Value
$52,396
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sarah, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38665 | $17,947 | $37,191 | $46,067 | $106,303 | $134,486 |
Source: Ownwell
Property Tax Bills Across Sarah, Mississippi
Property tax bills in Sarah, located in Tunica County, Mississippi, are calculated based on the assessed value of the property. This value is determined by the local tax assessor and typically represents a percentage of the property's market value. Homeowners in Sarah pay property taxes that reflect various factors, including the property's assessed value and the local tax rate. For instance, the median home price in Sarah is $46,067. With the national median property tax rate being 0.99%, homeowners in Sarah might expect their tax bills to be influenced by this rate, although local rates can vary. In Sarah, tax bills range from $434 at the 25th percentile to $1,413 at the 90th percentile. This variability can significantly affect homeowners' annual financial planning. Understanding these factors helps homeowners anticipate their tax liabilities and manage their budgets more effectively. The highest median tax bill in Sarah is $817, providing a benchmark for what many residents might expect to pay.
Average Sarah Tax Bill
$817
Average Tunica County Tax Bill
$625
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Sarah, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38665 | $229 | $434 | $817 | $1,203 | $1,413 |
Source: Ownwell