Example of Bolivar County Property Tax Calculation
Bolivar County calculates property taxes based on the assessed value of the property owned by residents. To determine the amount of property tax owed by a resident, the county assesses the value of the property and applies a tax rate to it. For example, if the assessed value of a property is $100,000 and the tax rate is 1%, then the property tax owed would be $1,000.
To calculate property taxes, Bolivar County uses a formula that takes into account the assessed value of the property and any exemptions or deductions that may apply. Residents can contact the county's tax assessor's office for more information on how their property tax is calculated.
It's important for residents to pay their property taxes on time to avoid additional fees and penalties. Bolivar County offers a variety of payment options, including online payment, payment by mail, or payment in person at the county's tax office.
If you want appeal your property tax assessment - contact your local tax assessor.
Bolivar County Property Tax Rates
The table below shows the property tax rates in Bolivar County, presented in US dollars per 100$ of assessed value.
| Tax type | Rate per $100 assessed value |
|---|---|
| County tax | $0.89 |
| School tax | $2.87 |
| City tax (Cleveland) | $2.71 |
| City tax (Shaw) | $1.17 |
| City tax (Mound Bayou) | $2.62 |
Note that these rates are subject to change and may vary depending on the location and type of property in Bolivar County. As a tax advisor, it is important to keep up-to-date with any changes in local tax laws and regulations.
Who sets property tax rates in Bolivar County ?
Property tax rates in Bolivar County are set by the County Board of Supervisors. This occurs annually during a public hearing where citizens can voice their opinions on the proposed rates. Once the rates have been set, they are applied to the assessed value of the property to determine the tax amount due. Property tax is due on January 1 of each year and becomes delinquent if not paid by February 1. Failure to pay property taxes can result in penalties, interest, and even the loss of the property through a tax sale. It is important for property owners in Bolivar County to stay current on their property taxes to avoid these consequences.
Homestead exemptions in Bolivar County ?
The following table displays the Homestead exemptions and deductions specific to Bolivar County in Mississippi, including details on exemption eligibility, amount, and notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Regular Homestead Exemption | All homeowners | Up to $7,500 | Must be the primary residence of the homeowner |
| Senior Citizen or Disability Homestead Exemption | Homeowners over 65 years old or with a disability | Up to $10,000 | Must be the primary residence of the homeowner |
| Additional Homestead Exemption for Persons 65 Years of Age or Older or Persons with Disabilities | Homeowners over 65 years old or with a disability | Up to $30,000 | Must be the primary residence of the homeowner and meet income requirements |
| Homestead Exemption for Disabled Veterans | Disabled veterans | Up to $7,500 | Must be the primary residence of the veteran |
| Homestead Exemption for Veterans' Surviving Spouses | Surviving spouses of veterans | Up to $7,500 | Must be the primary residence of the surviving spouse |
It's important to note that homeowners must apply for these exemptions and meet specific eligibility requirements in order to qualify. Additionally, some exemptions may require annual renewal or verification of eligibility. Homeowners in Bolivar County should consult with their local tax assessor's office for more information on these exemptions and how to apply.
When is Bolivar County Property Tax due ?
Bolivar County Property Tax is typically due on February 1st of each year. However, taxpayers have the option to pay in installments with the first installment due on February 1st and the second installment due on July 1st.
There are several payment methods available to taxpayers, including:
| Payment Method | Details |
|---|---|
| Payments can be made by check or money order and mailed to the Bolivar County Tax Collector. The mailing address is available on the tax bill. | |
| In-Person | Taxpayers can pay in person at the Bolivar County Tax Collector's office located at 200 South Court Street in Cleveland, Mississippi. Accepted forms of payment include cash, check, money order, and credit/debit cards with a convenience fee. |
| Online | Taxpayers can pay online through the Bolivar County Tax Collector's website. Accepted forms of payment include e-check, credit/debit cards with a convenience fee. |
It is important to note that failure to pay property taxes on time can result in penalties and interest charges. Therefore, it is recommended that taxpayers pay on or before the due date to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Bolivar County Property Tax penalty calculated ?
Bolivar County Property Tax Penalty Calculation
When a property owner in Bolivar County fails to pay their property taxes on time, they may be subject to penalties. These penalties are calculated based on the amount of the unpaid taxes and the length of time that they remain unpaid.
The penalty for delinquent property taxes in Bolivar County is a flat rate of 1.5% per month. This means that for every month that the taxes remain unpaid, the penalty will increase by 1.5% of the original unpaid amount.
For example, let's say that a property owner in Bolivar County has an outstanding property tax bill of $1,000. If they fail to pay this amount on time, they will be subject to a penalty of $15 for the first month ($1,000 x 1.5% = $15). If the taxes remain unpaid for two months, the penalty will increase to $30 ($1,000 x 1.5% x 2 = $30), and so on.
It's important for property owners to make sure that they pay their property taxes on time to avoid penalties. If you have any questions about your property taxes in Bolivar County, you can contact the county tax office for assistance.
We recommend contacting the Bolivar County Tax Office or a local tax professional for the most up-to-date and accurate information.