Calhoun City, Mississippi Property Taxes
The median property tax rate in Calhoun City, MS is 0.78%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Calhoun City at $64,800, the typical annual property tax bill is around $571, which is well below the national median of $2,690. Property taxes in Calhoun City are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Calhoun City'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 Calhoun City or another part of Webster County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Calhoun City, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$505
$469
Ownwell’s Calhoun City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calhoun City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calhoun City 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 Calhoun City, Mississippi
Property taxes in Calhoun City, Mississippi, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Calhoun City is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Calhoun City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calhoun City 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 Calhoun City's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 38916 has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Calhoun City provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calhoun City Tax Rate
0.78%
Average Webster County Tax Rate
0.98%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calhoun City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38916 | 0.52% | 0.72% | 0.78% | 1.00% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Calhoun City, Mississippi
In Calhoun City, 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 Webster 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 Calhoun City, 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. For instance, the median home price in Calhoun City is $64,800, with tax bills ranging from $290 at the 25th percentile to $1,567 at the 90th percentile. The highest median tax bill of $571 is found in the 38916 zip code, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Calhoun City Assessed Value
$64,800
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 Calhoun City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38916 | $22,584 | $35,986 | $64,800 | $125,272 | $154,138 |
Source: Ownwell
Property Tax Bills Across Calhoun City, Mississippi
In Calhoun City, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The median home price in the area is $64,800. Once the assessed value is established, the tax rate is applied to this value to determine the annual tax bill. Factors such as property location, improvements, and market conditions are considered during the assessment process. Homeowners in Calhoun City can expect property tax bills to vary significantly. For example, the 25th percentile tax bill is around $290, while the 75th percentile tax bill reaches $1,077. At the 90th percentile, homeowners might face tax bills as high as $1,567. The highest median tax bill recorded in the area is $571, which indicates some variation depending on specific circumstances. Compared to the national median property tax rate of 0.99%, Calhoun City's property taxes can be seen as relatively moderate, providing some relief to homeowners while still contributing to essential public services.
Average Calhoun City Tax Bill
$571
Average Webster County Tax Bill
$751
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Calhoun City, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38916 | $175 | $290 | $571 | $1,077 | $1,567 |
Source: Ownwell