Swan Lake, Tallahatchie County, Mississippi Property Taxes
Median SWAN LAKE, MS effective property tax rate: 0.93%, significantly lower than the national median of 1.02%, but lower than the Mississippi state median of 1.31%.
Median SWAN LAKE, MS home value: $80,815
Median annual SWAN LAKE, MS tax bill: $611, $1,789 lower than the national median property tax bill of $2,400.
How are property taxes in Tallahatchie calculated?
Property taxes in SWAN LAKE, 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 SWAN LAKE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in SWAN LAKE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Swan Lake, Tallahatchie County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.52%
Estimate Property Tax Bill
$420
$390
Property Tax Rates Across Swan Lake, Tallahatchie County, Mississippi
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties estimate the necessary budget to fund services and divide this by the total assessed value of all taxable property in their area. This calculation establishes the property tax rate. Although the process involves votes and laws to set tax rates and budgets, this is essentially how it works annually.
Now, let's look at Swan Lake in Tallahatchie County, Mississippi. The effective property tax rate here can be compared to other cities in Mississippi and the median property tax rates in Mississippi and the U.S. While the national median property tax rate is 1.02%, Mississippi's median is slightly lower at 0.93%. This comparison highlights how Swan Lake's property tax rate fits into the broader context of state and national averages. Such insights can help property owners understand their tax obligations and explore potential savings through property tax appeals and 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 Swan Lake Tax Rate
0.52%
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 Tallahatchie County Tax Rate
1.81%
Median Effective Mississippi Tax Rate
1.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Swan Lake, Tallahatchie County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Swan Lake, Tallahatchie County, Mississippi
When examining property taxes in Swan Lake, Mississippi, 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 Tallahatchie 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 Tallahatchie 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 Swan Lake. For example, the median home price in Swan Lake is $80,815, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Swan Lake, Tallahatchie County, Mississippi
Source: Ownwell
$35,357
$47,410
$59,462
Median Swan Lake Market Value
$80,807
Median Tallahatchie County Market Value
$42,508
Median Mississippi Market Value
$70,930
Median United States Market Value
$235,294
Property Tax Assessment Values Across Swan Lake, Tallahatchie County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Swan Lake, Tallahatchie County, Mississippi
In Swan Lake, Mississippi, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically represents a percentage of the home's market value. Homeowners in Swan Lake face a median property tax bill significantly lower than the national median of $2,400. For instance, the tax bill at the 25th percentile is $388, while at the 75th percentile, it's $908. This variance highlights how property tax bills can fluctuate based on factors like property location and size. These taxes are crucial for funding local services, but they can also be a burden for homeowners if over-assessed.
Ownwell steps in to assist homeowners by providing property tax appeal services. Our experts analyze your property's assessment and market conditions to identify potential savings. By challenging inaccurate assessments, Ownwell can help reduce your tax bill, ensuring you only pay your fair share. Engaging with Ownwell means accessing expertise that can lead to significant savings, providing peace of mind and financial relief.
Median Swan Lake Tax Bill
$644
Median Tallahatchie County Tax Bill
$509
Median Mississippi Tax Bill
$914
Median United States Tax Bill
$2,400
Property Tax Bills Across Swan Lake, Tallahatchie County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell