38647 Property Tax Rate

Property owners in ZIP code 38647 (Michigan City, Mississippi) pay a median of $633/year in property taxes on homes valued at $74,200. This translates to an effective tax rate of 0.85%, which is 16% above the Mississippi state average of 0.73%.

The monthly property tax burden for a median-valued home in 38647 is approximately $53, which factors into escrow payments on mortgages. This ZIP code is located within Benton County. This is $277 less than the Mississippi average of $910/year.

Compared to similar ZIP codes in Mississippi, 38647 has lower property taxes. ZIP codes with similar effective rates include 39305 (0.85%) and 38920 (0.86%).

In Michigan City, property taxes represent approximately 1.2% of the median household income of $51,210, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 38647, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Benton County's tax assessor directly.