Lauderdale, Mississippi Property Taxes
The median property tax rate in Lauderdale, MS is 1.19%, which is higher than the national median of 0.99% but slightly lower than the Mississippi state median of 1.31%. With the median home value in Lauderdale at $40,328, the typical annual property tax bill is approximately $305, significantly less than the national median of $2,690. Property taxes in Lauderdale are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lauderdale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lauderdale or another part of the city, a deep understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lauderdale, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$480
Ownwell’s Lauderdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lauderdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lauderdale to estimate 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 Lauderdale, Mississippi
Property taxes in Lauderdale, Mississippi, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lauderdale is 1.19%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lauderdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lauderdale 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 Lauderdale's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39335 zip code has both the highest and lowest median property tax rate of 1.19%. Understanding how these cities compare with Lauderdale provides valuable insights into the varying tax landscape across Kemper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lauderdale Tax Rate
1.19%
Average Kemper County Tax Rate
1.45%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lauderdale, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39335 | 0.57% | 0.61% | 1.19% | 1.51% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Lauderdale, Mississippi
In Lauderdale, 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 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 Lauderdale, 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 Lauderdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lauderdale is $40,328, with the highest median tax bill recorded at $305 in the 39335 zip code.
Average Lauderdale Assessed Value
$40,328
Average Kemper County Assessed Value
$50,005
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lauderdale, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39335 | $7,212 | $10,069 | $40,328 | $56,641 | $89,884 |
Source: Ownwell
Property Tax Bills Across Lauderdale, Mississippi
In Lauderdale, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. For homeowners in Lauderdale, the median home price is $40,328. Property tax rates are then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and improvements. For instance, tax bills in Lauderdale range significantly, with the 25th percentile at $76 and the 75th percentile at $615, reflecting variations in property values and applicable exemptions. The highest median tax bill in the area is $305 in the 39335 zip code. Compared to the national median property tax rate of 0.99%, Lauderdale's property taxes can be relatively low, offering some financial relief to homeowners. However, the tax burden varies, and understanding these factors helps homeowners anticipate their annual property tax obligations better.
Average Lauderdale Tax Bill
$305
Average Kemper County Tax Bill
$395
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Lauderdale, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39335 | $63 | $76 | $305 | $615 | $1,018 |
Source: Ownwell