Example of Tallahatchie County Property Tax Calculation
In Tallahatchie County, property taxes are calculated based on the assessed value of the property. Let's say a property is assessed at $100,000. The county has a tax rate of 1.5%.
To calculate the property tax, you would multiply the assessed value by the tax rate. So, $100,000 x 1.5% = $1,500 in property taxes per year.
It's important to note that property taxes can vary depending on the specific location within Tallahatchie County, as well as any applicable exemptions or deductions. It's always a good idea to consult with a local tax professional for specific information regarding your property.
If you want appeal your property tax assessment - contact your local tax assessor.
Tallahatchie County Property Tax Rates
The following table lists the property tax rates in Tallahatchie County, expressed as a rate per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Property Tax | $0.756 |
| School District Property Tax | $2.50 |
| Municipal Property Tax | $0.00 |
It is important to note that these rates may vary depending on the specific location and property type within Tallahatchie County. As a tax advisor, it is recommended to consult with local authorities and professionals for accurate and up-to-date information.
Who sets property tax rates in Tallahatchie County ?
Who and when sets property tax rates in Tallahatchie County?
- In Tallahatchie County, property tax rates are set by the Tallahatchie County Board of Supervisors.
- The rates are set annually and are based on the assessed value of the property.
- Property owners in Tallahatchie County receive a notice of assessment each year which outlines the assessed value of their property and the corresponding tax rate.
- Property tax rates in Tallahatchie County vary depending on the location and type of property.
- It is important for property owners to review their assessment notice and ensure that the assessed value and tax rate are accurate.
- Appeals can be made to the Tallahatchie County Board of Supervisors if there are concerns about the assessment or tax rate.
In summary, the Tallahatchie County Board of Supervisors sets property tax rates annually based on assessed property values. Property owners should review their assessment notice and have the option to appeal if there are concerns about the assessment or tax rate.
When is Tallahatchie County Property Tax due ?
Tallahatchie County Property Tax Due Date and Payment Methods
Property owners in Tallahatchie County, Mississippi are required to pay property taxes annually. The due date for property tax payments in Tallahatchie County is typically on or before January 31st of each year.
Property owners have several options for making their property tax payments in Tallahatchie County, including:
- Online: Property owners can make online payments through the Tallahatchie County Tax Collector's website using a credit or debit card.
- Mail: Property owners can mail their property tax payments to the Tallahatchie County Tax Collector's office. The mailing address and payment details can be found on the tax bill.
- In-person: Property owners can make their property tax payments in person at the Tallahatchie County Tax Collector's office. The office is located at 1 Court Square, Charleston, MS 38921.
Late payments are subject to penalties and interest charges, so it is important to make sure that property tax payments are made on time. If you have any questions about Tallahatchie County property taxes or payment methods, please contact the Tallahatchie County Tax Collector's office for more information.
If you have more questions - contact your local tax collector.
Homestead exemptions in Tallahatchie County ?
To help homeowners in Tallahatchie County, Mississippi, better understand their property tax benefits, we've put together a comprehensive table of exemptions and deductions available to them. This table includes all of the county-specific Homestead exemptions and deductions, as well as some notes to help clarify any confusing details.
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Primary residence of the homeowner | Up to $7,500 of assessed property value | Must file by April 1st |
| Senior Exemption | Homeowner over the age of 65 | Up to $7,500 of assessed property value | Must file by April 1st |
| Disability Exemption | Homeowner with a disability | Up to $7,500 of assessed property value | Must file by April 1st and provide proof of disability |
| School Exemption | Homeowner with a child attending a school in Tallahatchie County | Up to $300 | Must file by April 1st and provide proof of attendance |
| Disabled Veteran Exemption | Veteran with a disability from service | Up to $7,500 of assessed property value | Must file by April 1st and provide proof of disability and service |
Please note that these exemptions and deductions are subject to change, so it's important to verify current eligibility and amounts with the Tallahatchie County Tax Assessor's Office. Additionally, it's important to file before the April 1st deadline in order to take advantage of these benefits.
Overall, these exemptions and deductions can provide significant savings for homeowners in Tallahatchie County. By utilizing these benefits, homeowners can reduce their property tax burden and improve their financial well-being.
How is Tallahatchie County Property Tax penalty calculated ?
Tallahatchie County calculates property tax penalties based on a specific formula. The penalty is levied on any outstanding taxes that are not paid by the due date. Here is how the penalty is calculated:
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Determine the amount of outstanding taxes: The total amount of taxes owed on the property is calculated, including any penalties assessed for prior years.
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Calculate the interest rate: The interest rate used to calculate the penalty is determined by the Mississippi Department of Revenue. For example, if the interest rate is 1.5%, then the penalty will be calculated at that rate.
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Calculate the penalty amount: The penalty is calculated as a percentage of the outstanding taxes plus any prior year penalties. For example, if the total amount of outstanding taxes is $5,000 and the interest rate is 1.5%, then the penalty would be $75 ($5,000 x 1.5%).
Here is an example to help illustrate the calculation:
Suppose John owns a property in Tallahatchie County with an assessed value of $200,000. The property is subject to a property tax of 1% and the due date for the taxes is January 31st of each year. John fails to pay his property taxes by the due date for two years, resulting in $4,000 in outstanding taxes.
The Mississippi Department of Revenue sets the interest rate at 2%. Therefore, the penalty for John's overdue taxes would be calculated as follows:
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Outstanding taxes: $4,000
-
Interest rate: 2%
-
Penalty amount: $80 ($4,000 x 2%)
Therefore, John would owe a total of $4,080 in property taxes and penalties.
It is important for property owners in Tallahatchie County to pay their property taxes on time to avoid penalties and additional fees.
We recommend contacting the Tallahatchie County Tax Office or a local tax professional for the most up-to-date and accurate information.