Itta Bena, Leflore County, Mississippi Property Taxes
Median Itta Bena, MS effective property tax rate: 1.35%, significantly higher than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median Itta Bena, MS home value: $42,634
Median annual Itta Bena, MS tax bill: $622, $1,778 lower than the national median property tax bill of $2,400.
How are property taxes in Leflore County calculated?
Property taxes in Itta Bena, 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 Itta Bena’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Itta Bena, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Itta Bena, Leflore County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.35%
Estimate Property Tax Bill
$574
$533
Property Tax Rates Across Itta Bena, Leflore County, Mississippi
Local government entities are responsible for setting tax rates, which can vary significantly within Mississippi. Each year, counties estimate their required budget to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the essence of the annual process.
Comparatively, Itta Bena in Leflore County has an effective property tax rate of 1.35%, which aligns with the highest and lowest median tax rates in the state. This rate is higher than the national median property tax rate of 1.02%. For property owners in Itta Bena, this means their property tax rate is above the national average, potentially leading to higher annual property tax bills compared to other regions in the country. Understanding these differences can be crucial for property owners when planning their finances and considering property tax appeals or exemptions.
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 Itta Bena Tax Rate
1.35%
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 Leflore County Tax Rate
1.82%
Median Effective Mississippi Tax Rate
1.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Itta Bena, Leflore County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38941 | 0.81% | 1.21% | 1.35% | 2.63% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Itta Bena, Leflore County, Mississippi
When examining property taxes in Itta Bena, 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 Leflore 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.
Assessment notices: In Leflore 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 Itta Bena. For example, the median home price in Itta Bena is $42,634, with tax bills ranging significantly across the county. 38941 has the highest median home price at $42,634.
Property Tax Assessment Values Across Itta Bena, Leflore County, Mississippi
Source: Ownwell
$22,373
$47,346
$72,319
Median Itta Bena Market Value
$42,554
Median Leflore County Market Value
$42,074
Median Mississippi Market Value
$70,930
Median United States Market Value
$235,294
Property Tax Assessment Values Across Itta Bena, Leflore County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38941 | $14,026 | $31,169 | $42,554 | $61,913 | $105,383 |
Source: Ownwell
Property Tax Bills Across Itta Bena, Leflore County, Mississippi
Median Itta Bena Tax Bill
$632
Median Leflore County Tax Bill
$626
Median Mississippi Tax Bill
$914
Median United States Tax Bill
$2,400
Property Tax Bills Across Itta Bena, Leflore County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38941 | $227 | $407 | $632 | $933 | $1,552 |
Source: Ownwell