Example of Sharkey County Property Tax Calculation
In Sharkey County, property taxes are calculated based on the assessed value of the property. For example, if a property is assessed at $100,000, and the tax rate for the county is 2%, the property tax would be $2,000. This means that the property owner would be responsible for paying $2,000 in property taxes for that year. Assessments are conducted by the county assessor's office, and property owners may appeal their assessment if they believe it is inaccurate. It is important for property owners to stay informed about changes in tax rates and assessment values in Sharkey County to ensure they are paying the correct amount of property taxes.
If you want appeal your property tax assessment - contact your local tax assessor.
Sharkey County Property Tax Rates
Here's a formatted table listing the Sharkey County Property Tax rates with the rate per $100 of assessed value in US English, using active voice, and easy to read format:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.89 |
| School District | $1.25 |
| Municipalities | $0.50-1.00 |
| Special Taxing Districts | Varies by district |
It's important to note that the rates for municipalities and special taxing districts can vary depending on their specific needs and funding requirements. As a tax advisor, it's also essential to advise clients to check for any exemptions or deductions they may qualify for to reduce their property tax burden.
Who sets property tax rates in Sharkey County ?
Who sets property tax rates in Sharkey County?
The Sharkey County Board of Supervisors is responsible for setting property tax rates in Sharkey County.
When are property tax rates set in Sharkey County?
Property tax rates in Sharkey County are set annually by the Board of Supervisors during their regular meetings. The Board typically sets the rates in September or October for the upcoming fiscal year, which begins on October 1st.
How are property tax rates determined in Sharkey County?
The property tax rates in Sharkey County are determined by taking into account the county's budgetary needs, which include funding for schools, law enforcement, road maintenance, and other public services. The Board of Supervisors also considers the assessed value of the property and any applicable exemptions or special assessment districts.
What is the current property tax rate in Sharkey County?
The current property tax rate in Sharkey County is $0.994 per $100 of assessed value for real property and $3.96 per $100 of assessed value for personal property. It is important to note that these rates are subject to change annually, based on the needs of the county and the decisions made by the Board of Supervisors.
| Type of Property | Tax Rate |
|---|---|
| Real Property | $0.994 |
| Personal Property | $3.96 |
Homestead exemptions in Sharkey County ?
In Sharkey County, Mississippi, there are various Homestead exemptions and deductions available to homeowners. To make it easier for you to understand, a table with four columns containing exemption, eligibility, amount, and notes will be created.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Must be owner-occupied and primary residence | Up to $7,500 | Applies to all properties |
| Additional Exemption for Elderly or Disabled | Must be 65 years of age or older or totally disabled | Up to $1,000 | Homeowner must provide proof of disability or age |
| Totally Exempted Property | Homesteads owned by institutions, government agencies, or religious organizations | Full exemption | Applies only to certain properties |
| Veterans Exemption | Veterans with a service-connected disability | Up to $7,500 | Applies to all properties |
| Agricultural Use Value | Property used for agricultural purposes | Exemption up to 75% of value | Applies only to agricultural properties |
| Homestead Preservation Credit | Low-income homeowners with high property tax burden | Up to $1,000 | Homeowner must apply for credit |
It is important to note that these exemptions and deductions are specific to Sharkey County and may vary in other counties or states. Homeowners are encouraged to contact their local tax office for more information on eligibility and application processes.
When is Sharkey County Property Tax due ?
Sharkey County Property Tax is typically due on January 31st of each year. Property owners in Sharkey County have several payment methods available to them, including online payments, in-person payments, and mail-in payments.
Here are the details of each payment method:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can go to the Sharkey County website and pay their property taxes online. They can use their credit card, debit card, or electronic check to make the payment. |
| In-Person Payment | Property owners can visit the Sharkey County Tax Collector's Office and pay their property taxes in person. They can pay by cash, check, or money order. |
| Mail-In Payment | Property owners can mail their property taxes to the Sharkey County Tax Collector's Office. They should make their check or money order payable to Sharkey County Tax Collector and include their property tax bill with the payment. |
It's important to note that late payments will result in penalties and interest charges, so property owners should make sure to pay their property taxes on time.
If you have more questions - contact your local tax collector.
How is Sharkey County Property Tax penalty calculated ?
Sharkey County Property Tax Penalty Calculation
Sharkey County imposes a penalty on property taxes that are not paid on time. The penalty is calculated based on the delinquent tax amount and the number of months past due.
The penalty rate is set by the Sharkey County Tax Assessor's Office and is determined by state law. Currently, the penalty rate for delinquent property taxes in Sharkey County is 1% per month. This means that for each month a property tax payment is late, the property owner will be charged an additional 1% of the delinquent tax amount.
For example, if a property owner owes $1,000 in property taxes and the payment is two months past due, the penalty would be calculated as follows:
- Delinquent tax amount: $1,000
- Penalty rate: 1% per month
- Number of months past due: 2
Penalty calculation: $1,000 x 1% x 2 = $20
Therefore, the total amount owed by the property owner would be $1,020 ($1,000 in delinquent taxes plus $20 in penalties).
It is important for property owners in Sharkey County to pay their property taxes on time to avoid these penalties. If a property owner is unable to pay their property taxes, they should contact the Sharkey County Tax Assessor's Office to discuss payment arrangements or possible exemptions.
We recommend contacting the Sharkey County Tax Office or a local tax professional for the most up-to-date and accurate information.