Columbus, Mississippi Property Taxes
The median property tax rate in Columbus, MS is 1.25%, which is higher than the national median of 0.99% but slightly lower than the Mississippi state median of 1.31%. With a median home value of $63,555 in Columbus, the typical annual property tax bill amounts to $716, significantly below the national median of $2,690. Property taxes in Columbus are calculated based on the tax assessed value, often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Columbus'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 Columbus or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Columbus, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$794
Ownwell’s Columbus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbus 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 Columbus, Mississippi
Property taxes in Columbus, Mississippi, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbus is 1.25%, higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Columbus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbus 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 Columbus's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39710 zip code has the highest median property tax rate of 2.45%, while the 39702 zip code has the lowest median tax rate of 0.86%. Understanding how these cities compare with Columbus provides valuable insights into the varying tax landscape across Lowndes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbus Tax Rate
1.25%
Average Lowndes County Tax Rate
1.23%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbus, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39701 | 0.56% | 1.22% | 2.45% | 2.45% | 2.46% |
| 39702 | 0.40% | 0.57% | 0.86% | 1.45% | 2.45% |
| 39705 | 0.40% | 0.71% | 1.12% | 1.56% | 2.45% |
| 39710 | 0.53% | 2.45% | 2.45% | 2.45% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Columbus, Mississippi
In Columbus, 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 Lowndes 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 Columbus, 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. For example, the median home price in Columbus is $63,555, while tax bills can range significantly. The 25th percentile tax bill is $344, and the 75th percentile tax bill is $1,284. The highest median tax bill is $1,037 in the 39705 zip code, whereas the lowest is $101 in the 39710 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Columbus Assessed Value
$63,555
Average Lowndes County Assessed Value
$63,980
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbus, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39701 | $3,690 | $15,000 | $31,700 | $70,190 | $158,481 |
| 39702 | $28,568 | $46,970 | $66,330 | $106,740 | $157,786 |
| 39705 | $20,714 | $60,050 | $102,050 | $148,760 | $241,860 |
| 39710 | $1,855 | $2,040 | $3,570 | $4,318 | $6,530 |
Source: Ownwell
Property Tax Bills Across Columbus, Mississippi
In Columbus, located in Lowndes County, MS, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor, who evaluates the market value of the home and applies an assessment ratio. This ratio is used to convert the market value into the assessed value, which forms the basis for the property tax calculation. The tax rate, or millage rate, is then applied to the assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in Columbus is $63,555, with tax bills ranging widely based on property values. The 25th percentile tax bill is approximately $344, whereas the 75th percentile reaches $1,284, and the 90th percentile can be as high as $2,141. For homeowners, understanding these factors is crucial as they directly impact the annual financial obligation. Comparing these figures to the national median property tax rate of 0.99%, it's evident that property taxes in Columbus can vary significantly, affecting household budgets accordingly.
Average Columbus Tax Bill
$716
Average Lowndes County Tax Bill
$692
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbus, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39701 | $54 | $225 | $542 | $1,099 | $2,079 |
| 39702 | $191 | $375 | $723 | $1,115 | $1,613 |
| 39705 | $173 | $441 | $1,037 | $1,955 | $3,286 |
| 39710 | $17 | $50 | $101 | $106 | $170 |
Source: Ownwell