Leflore County property tax

Leflore County Property Tax Rates

The Leflore County Property Tax rates are as follows:

Please note that these rates are subject to change and may vary depending on the specific property being assessed. It is recommended that taxpayers consult with a qualified tax professional for further information and guidance.

Who sets property tax rates in Leflore County ?

In Leflore County, the Board of Supervisors sets the property tax rates annually. This board is made up of five elected officials who oversee various aspects of county government, including taxation. The property tax rates are set during a public meeting held in September of each year. The rates are based on the assessed value of the property and are used to fund county services such as schools, roads, and law enforcement. Property owners in Leflore County can access information about their property taxes and assessments through the county tax assessor's office website.

Example of Leflore County Property Tax Calculation

In Leflore County, property taxes are calculated based on the assessed value of the property. To determine the assessed value, the county appraiser assesses the property's current market value and applies a percentage set by the state. This percentage is typically around 11.5% in Oklahoma, where Leflore County is located.

Once the assessed value is determined, the county multiplies it by the mill levy rate. The mill levy rate is a percentage set by the county commissioners, and it determines the amount of tax you owe per $1,000 of assessed value.

For example, let's say your property's assessed value is $100,000 and the mill levy rate is 100. This means you owe $100 for every $1,000 of assessed value. To calculate your property tax, you would multiply $100,000 by 0.1 (100 divided by 1,000) to get $10,000. Then you would multiply $10,000 by 100 (the mill levy rate) to get your total tax amount of $1,000.

It's important to note that property tax rates can vary depending on where you live within Leflore County, as different areas may have different mill levy rates. It's always a good idea to check with the county assessor's office to get an accurate estimate of your property tax bill.

If you want appeal your property tax assessment - contact your local tax assessor.

Homestead exemptions in Leflore County ?

In Leflore County, Mississippi, there are several county-specific Homestead exemptions and deductions that residents may be eligible for. To make it easier for our readers, we've compiled a list of these exemptions and deductions in a table format:

It's important to note that these exemptions and deductions are subject to change and may have specific requirements beyond what is listed here. It's recommended that residents contact the Leflore County Tax Assessor's office for more information and to see if they qualify for any of these exemptions or deductions.

When is Leflore County Property Tax due ?

Leflore County Property Tax typically due date is on February 1st of each year.

There are several payment methods available for the taxpayers of Leflore County to pay their property taxes:

• You can pay in person or by mail with a check or money order to the County Treasurer's Office.
• You can pay online via the Leflore County Treasurer's website using a credit or debit card.
• You can also set up automatic payments through the County Treasurer's office.

It's important to note that if you decide to pay your property taxes online, there may be additional fees associated with the payment process.

In conclusion, Leflore County Property Taxes are typically due on February 1st, and taxpayers have several payment options available to them, including in-person, by mail, online, or automatic payments.

If you have more questions - contact your local tax collector.

How is Leflore County Property Tax penalty calculated ?

Leflore County Property Tax Penalty Calculation

When a property owner in Leflore County fails to pay their property taxes by the due date, a penalty will be assessed on the unpaid balance. The penalty is calculated based on the number of days the payment is past due and the interest rate set by the state of Mississippi. Here's how it works:

1. Determine the Interest Rate The state of Mississippi sets the interest rate for property tax penalties. As of 2021, the interest rate is 1% per month, or 12% annually.

2. Calculate the Penalty To calculate the penalty, you will need to know the amount of the unpaid property tax and how many days past due it is. Here's an example:

• Unpaid property tax balance: $1,000
• Number of days past due: 30

To calculate the penalty, multiply the unpaid tax balance by the interest rate for one month (1%): $1,000 x 1% = $10

Then, multiply the result by the number of months past due (30 days / 30 days = 1 month): $10 x 1 = $10

Therefore, the penalty for this example would be $10.

3. Add the Penalty to the Unpaid Tax Balance The penalty is added to the unpaid tax balance, and interest continues to accrue on the total amount until the taxes are paid in full.

Conclusion If you own property in Leflore County, it's important to pay your property taxes on time to avoid penalties and interest charges. By understanding how the penalty is calculated, you can better manage your finances and avoid unnecessary fees.

We recommend contacting the Leflore County Tax Office or a local tax professional for the most up-to-date and accurate information.

Leflore County tax offices:

• Leflore County tax assessor
• Leflore County tax collector
• Leflore County tax commissioner
• Leflore County tax appraiser
• Leflore County tag office