Mc Cool, Winston County, Mississippi Property Taxes
The median property tax rate in MC COOL, MS is 0.70%, significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in MC COOL, the typical annual property tax bill is $363, well below the national median of $2,690. Property taxes in MC COOL are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding MC COOL'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 MC COOL 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
Mc Cool, Winston County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$348
$323
Ownwell’s MC COOL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC COOL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC COOL 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 Mc Cool, Winston County, Mississippi
Property taxes in Mc Cool, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Cool is 0.70%, which is lower than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Mc Cool set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Cool 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 Mc Cool's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39108 zip code has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Mc Cool provides valuable insights into the varying tax landscape across Winston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Cool Tax Rate
0.70%
Average Winston County Tax Rate
0.66%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Cool, Winston County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | 0.38% | 0.64% | 0.70% | 1.03% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Mc Cool, Winston County, Mississippi
In MC COOL, 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 Winston 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 MC COOL, 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 MC COOL 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 39108, with a median tax bill of $363.00.
Property Tax Assessment Values Across Mc Cool, Winston County, Mississippi
Source: Ownwell
$49,662
$72,056
$94,450
Average Mc Cool Assessed Value
$49,662
Average Winston County Assessed Value
$66,478
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Cool, Winston County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | $9,340 | $21,908 | $49,662 | $79,929 | $127,044 |
Source: Ownwell
Property Tax Bills Across Mc Cool, Winston County, Mississippi
In Mc Cool, located in Winston County, MS, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor who evaluates the property's market value and applies an assessment ratio. For homeowners, the tax rate is then applied to this assessed value to calculate the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the overall tax bill. Homeowners in Mc Cool experience a range of property tax bills. The 25th percentile tax bill is $187, while the 75th percentile is $632. For those at the higher end, the 90th percentile tax bill reaches $1,145. The median tax bill for the area is $363, which is significantly below the national median property tax rate of 0.99%. This relatively lower tax burden can provide financial relief to homeowners, making Mc Cool an attractive place for property investment.
Average Mc Cool Tax Bill
$363
Average Winston County Tax Bill
$387
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Cool, Winston County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39108 | $86 | $187 | $363 | $632 | $1,145 |
Source: Ownwell