Bellefontaine, Mississippi Property Taxes
The median property tax rate in Bellefontaine, MS is 0.94%, 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 $73,978 in Bellefontaine, the typical annual property tax bill amounts to $689, significantly below the national median of $2,690. Property taxes in Bellefontaine are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Bellefontaine's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bellefontaine or another part of Webster County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bellefontaine, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$695
$645
Ownwell’s Bellefontaine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bellefontaine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bellefontaine 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 Bellefontaine, Mississippi
Property taxes in Bellefontaine, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bellefontaine is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Bellefontaine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bellefontaine 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. For comparison, the zip code 39737 has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Bellefontaine provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bellefontaine Tax Rate
0.94%
Average Webster County Tax Rate
0.98%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bellefontaine, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39737 | 0.28% | 0.73% | 0.94% | 1.75% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Bellefontaine, Mississippi
In Bellefontaine, 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 local 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 Bellefontaine, 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 Bellefontaine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bellefontaine is $73,978, with the highest median tax bill being $689 in the 39737 zip code.
Property Tax Assessment Values Across Bellefontaine, Mississippi
Source: Ownwell
$22,443
$54,346
$86,248
Average Bellefontaine Assessed Value
$73,978
Average Webster County Assessed Value
$69,631
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bellefontaine, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39737 | $19,744 | $43,889 | $73,978 | $109,977 | $175,920 |
Source: Ownwell
Property Tax Bills Across Bellefontaine, Mississippi
In Bellefontaine, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the home's market value. Homeowners in Bellefontaine, located in Webster County, can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is $351, while the 75th percentile tax bill is $1,225. At the 90th percentile, the tax bill can reach up to $2,032. These variations are influenced by factors such as property size, location, and any applicable exemptions or deductions. The median home price in Bellefontaine is $73,978, which is relatively low compared to national figures. Despite this, the median property tax rate in Webster County closely aligns with the national median of 0.99%. This means that homeowners in Bellefontaine may find their property tax bills to be a manageable part of their overall homeownership costs, but they should still be prepared for potential fluctuations based on the specific characteristics of their property.
Average Bellefontaine Tax Bill
$689
Average Webster County Tax Bill
$751
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Bellefontaine, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39737 | $172 | $351 | $689 | $1,225 | $2,032 |
Source: Ownwell