Hickory Flat, Benton County, Mississippi Property Taxes

Name: Property Tax Bills Across Hickory Flat, Benton County, Mississippi
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Hickory Flat, MS effective property tax rate: 1.92%, significantly higher than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median Hickory Flat, MS home value: $28,565
Median annual Hickory Flat, MS tax bill: $349, $2,051 lower than the national median property tax bill of $2,400.

How are property taxes in Benton calculated?

Property taxes in Hickory Flat, MS are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Hickory Flat’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hickory Flat, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Hickory Flat, Benton County, Mississippi Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.92%

Estimate Property Tax Bill

$548

$509

Ownwell’s Hickory Flat Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hickory Flat with just two data points. By entering your property's estimated assessed value, our calculator applies Hickory Flat’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Benton County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hickory Flat, Benton County, Mississippi

Local government entities set tax rates, which can vary significantly within Mississippi. This variation is due to each county's annual process of estimating its required budget to provide services, which is then divided by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell.

Hickory Flat in Benton County has an effective property tax rate of 1.92%, which is notably higher than the national median property tax rate of 1.02%. This rate is also the highest in the state. Compared to the national median property tax bill of $2400, property owners in Hickory Flat may find themselves paying a higher bill due to the elevated tax rate. Understanding these rates is crucial for property owners looking to manage their expenses effectively and explore potential savings through property tax appeals and exemptions.

Property Tax Rates Across Hickory Flat, Benton County, Mississippi

Source: Ownwell

1.07%

1.52%

1.97%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Hickory Flat Tax Rate

1.92%

Median Effective Benton County Tax Rate

1.92%

Median Effective Mississippi Tax Rate

1.31%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hickory Flat, Benton County, Mississippi

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
38633	0.83%	1.04%	1.92%	1.97%	2.14%

Source: Ownwell

Property Tax Assessment Values Across Hickory Flat, Benton County, Mississippi

When examining property taxes in Hickory Flat, MS, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Benton County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. In Benton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hickory Flat. For example, the median home price in Hickory Flat is $28,565, with tax bills ranging significantly across the county. 38633 has the highest median home price at $28,565.

Property Tax Assessment Values Across Hickory Flat, Benton County, Mississippi

Source: Ownwell

$14,120

$22,280

$30,440

Median Hickory Flat Market Value

$28,565

Median Benton County Market Value

$21,390

Median Mississippi Market Value

$68,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hickory Flat, Benton County, Mississippi

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
38633	$1,527	$6,925	$28,565	$61,450	$94,016

Source: Ownwell

Property Tax Bills Across Hickory Flat, Benton County, Mississippi

In Hickory Flat, located in Benton County, Mississippi, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property. Homeowners in Hickory Flat experience property tax bills that can vary significantly, with the 25th percentile at $102 and the 90th percentile reaching $1,357. The median property tax bill in the area is notably lower than the national median of $2,400, reflecting the region's lower home values. Despite this, property taxes can still be a significant expense for homeowners, impacting their overall financial planning.

Ownwell assists homeowners by analyzing their property assessments, identifying potential errors or overvaluations, and filing appeals on their behalf. By leveraging local expertise and a deep understanding of property tax regulations, Ownwell can help reduce property tax obligations, leading to substantial savings. This service is particularly beneficial for homeowners in Hickory Flat, where even small adjustments can make a meaningful difference in annual expenses.

Property Tax Bills Across Hickory Flat, Benton County, Mississippi

Source: Ownwell

$154

$252

$349

Median Hickory Flat Tax Bill

$349

Median Benton County Tax Bill

$264

Median Mississippi Tax Bill

$854

Median United States Tax Bill

$2,400

Property Tax Bills Across Hickory Flat, Benton County, Mississippi

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
38633	$22	$102	$349	$712	$1,357

Source: Ownwell