Shannon, Monroe County, Mississippi Property Taxes

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

Median SHANNON, MS effective property tax rate: 1.84%, significantly higher than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median SHANNON, MS home value: $20,090
Median annual SHANNON, MS tax bill: $250, $2,150 lower than the national median property tax bill of $2,400.

How are property taxes in Monroe calculated?

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

Last Updated March 1, 2025

Shannon, Monroe County, Mississippi Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.84%

Estimate Property Tax Bill

$370

$343

Ownwell’s Shannon Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Shannon with just two data points. By entering your property's estimated assessed value, our calculator applies Shannon’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 Monroe County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Shannon, Monroe County, Mississippi

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that 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, in a nutshell, this is the annual process.

In Shannon, located in Monroe County, Mississippi, the effective property tax rate is significantly higher than the national median. The median property tax rate in the state is 1.84%, which is notably above the national median of 1.02%. This means residents in Shannon may experience a higher property tax burden compared to other parts of the country. However, the tax rate is consistent across Monroe County, reflecting uniformity within the region.

Understanding these rates can help property owners anticipate their annual tax obligations and explore potential savings through tax appeals or exemptions. By staying informed, residents can better manage their finances and potentially reduce their property tax bills.

Property Tax Rates Across Shannon, Monroe County, Mississippi

Source: Ownwell

0.90%

1.37%

1.84%

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 Shannon Tax Rate

1.84%

Median Effective Monroe County Tax Rate

1.48%

Median Effective Mississippi Tax Rate

1.31%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Shannon, Monroe County, Mississippi

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
38868	1.69%	1.83%	1.84%	1.84%	1.84%

Source: Ownwell

Property Tax Assessment Values Across Shannon, Monroe County, Mississippi

When examining property taxes in Shannon, 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 Monroe 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 Monroe 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 Shannon. For example, the median home price in Shannon is $20,090, with tax bills ranging significantly across the county. Zip code 38868 has the highest median home price at $20,090.

Property Tax Assessment Values Across Shannon, Monroe County, Mississippi

Source: Ownwell

$20,090

$37,150

$54,210

Median Shannon Market Value

$20,090

Median Monroe County Market Value

$48,950

Median Mississippi Market Value

$68,000

Median United States Market Value

$235,294

Property Tax Assessment Values Across Shannon, Monroe County, Mississippi

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
38868	$3,825	$8,918	$20,090	$45,145	$58,205

Source: Ownwell

Property Tax Bills Across Shannon, Monroe County, Mississippi

In Shannon, located in Monroe County, MS, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by a percentage of the property's market value, which is then multiplied by the local tax rate. With a median home price of $20,090, Shannon homeowners face property tax bills that can vary significantly. The 25th percentile tax bill is $156, while the 75th percentile rises to $577, and the 90th percentile reaches $843. Despite these variations, the median tax bill in Shannon's zip code 38868 is notably low at $250, which is well below the national median property tax bill of $2,400 and the median tax rate of 1.02%. This low tax burden can be advantageous for homeowners, but there is still potential for savings. Ownwell assists homeowners by identifying potential errors in assessments and ensuring all eligible exemptions are applied, helping to reduce their property tax bills and maximize savings.

Property Tax Bills Across Shannon, Monroe County, Mississippi

Source: Ownwell

$250

$437

$623

Median Shannon Tax Bill

$250

Median Monroe County Tax Bill

$540

Median Mississippi Tax Bill

$854

Median United States Tax Bill

$2,400

Property Tax Bills Across Shannon, Monroe County, Mississippi

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
38868	$79	$156	$250	$577	$843

Source: Ownwell