Sumrall, Mississippi Property Taxes
The median property tax rate in Sumrall, MS is 1.41%, significantly higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With a median home value of $41,970 in Sumrall, the typical annual property tax bill amounts to $501, which is below the national median of $2,690. Property taxes in Sumrall are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sumrall'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 Sumrall or another part of Marion County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sumrall, Mississippi Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,620
Ownwell’s Sumrall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sumrall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumrall 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 Sumrall, Mississippi
Property taxes in Sumrall, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumrall is 1.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Sumrall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumrall 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 Sumrall's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 39482 in Sumrall has both the highest and lowest median property tax rate of 1.41%. Understanding how these areas compare with Sumrall provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sumrall Tax Rate
1.41%
Average Marion County Tax Rate
2.10%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sumrall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39482 | 0.79% | 1.01% | 1.41% | 2.11% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Sumrall, Mississippi
In Sumrall, 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 Marion 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 Sumrall, 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 instance, the highest median tax bill in the area is $501 in the 39482 zip code, while the lowest median tax bill is also $501 in the same zip code. 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 Sumrall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sumrall Assessed Value
$41,970
Average Marion County Assessed Value
$47,810
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sumrall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39482 | $6,170 | $15,785 | $41,970 | $72,380 | $111,872 |
Source: Ownwell
Property Tax Bills Across Sumrall, Mississippi
In Sumrall, located in Marion County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by a percentage of its market value. The median home price in Sumrall is $41,970, significantly lower than the national median. Homeowners' tax bills can vary widely, with the 25th percentile tax bill at $206 and the 75th percentile reaching $874. At the 90th percentile, some homeowners face tax bills as high as $1,537. Various factors influence these amounts, including property characteristics, local tax rates, and any applicable exemptions. The property tax rate in Sumrall is notably lower than the national median of 0.99%, making it a relatively affordable place for homeowners. However, even within Sumrall, tax obligations can differ substantially. For instance, the highest and lowest median tax bills in the area are both recorded at $501 in the 39482 zip code. These taxes play a crucial role in funding local services, impacting how much homeowners contribute to community resources like schools and infrastructure.
Average Sumrall Tax Bill
$501
Average Marion County Tax Bill
$627
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumrall, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39482 | $97 | $206 | $501 | $874 | $1,537 |
Source: Ownwell