Columbia, Mississippi Property Taxes
The median property tax rate in Columbia, MS is 1.08%, slightly higher than the national median of 0.99% but lower than the Mississippi state median of 1.31%. With the median home value in Columbia at $50,320, the typical annual property tax bill reaches $665, which is below the national median of $2,690. Property taxes in Columbia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Columbia's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Columbia or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Columbia, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$543
Ownwell’s Columbia Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Columbia, Mississippi
Property taxes in Columbia, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 1.08%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Columbia's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39429 zip code has the highest median property tax rate of 1.08%, while the 39429 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Columbia provides valuable insights into the varying tax landscape across Jefferson Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
1.08%
Average Jefferson Davis County Tax Rate
1.48%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | 0.80% | 0.96% | 1.08% | 2.06% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, Mississippi
In Columbia, Mississippi, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Jefferson Davis County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Columbia, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Columbia is $50,320, with median tax bills ranging from $396 at the 25th percentile to $2,352 at the 90th percentile. The zip code 39429 has the highest and lowest median tax bill at $665.
Average Columbia Assessed Value
$50,320
Average Jefferson Davis County Assessed Value
$51,960
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | $17,870 | $32,430 | $50,320 | $127,110 | $202,690 |
Source: Ownwell
Property Tax Bills Across Columbia, Mississippi
In Columbia, located in Jefferson Davis County, MS, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value, which is determined by the local tax assessor. For homeowners in Columbia, the median home price stands at $50,320. The amount of property tax owed is derived by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property location, size, and any applicable exemptions. In Columbia, the property tax bills can vary significantly. The tax bill at the 25th percentile is $396, while at the 75th percentile, it rises to $1491. For those at the 90th percentile, the tax bill can reach up to $2352. These property taxes are essential for funding local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the community's overall quality of life. Compared to the national median property tax rate of 0.99%, Columbia's property tax rates are relatively moderate, providing a balanced approach to funding necessary services without overly burdening homeowners.
Average Columbia Tax Bill
$665
Average Jefferson Davis County Tax Bill
$654
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | $352 | $396 | $665 | $1,491 | $2,352 |
Source: Ownwell