Quitman, Mississippi Property Taxes
The median property tax rate in Quitman, MS is 1.12%, slightly above the national median of 0.99% but lower than the Mississippi state median of 1.31%. With a median home value of $58,260 in Quitman, the typical annual property tax bill amounts to $620, which is significantly below the national median of $2,690. Property taxes in Quitman are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Quitman'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 Quitman or another part of Clarke County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Quitman, 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 Quitman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quitman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quitman 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 Quitman, Mississippi
Property taxes in Quitman, Mississippi, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Quitman is 1.12%, which is higher than the U.S. national median of 0.99%. Local government entities within Quitman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quitman 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 Quitman's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39355 has both the highest and lowest median property tax rate of 1.12%. Understanding how these cities compare with Quitman provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quitman Tax Rate
1.12%
Average Clarke County Tax Rate
1.13%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quitman, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39355 | 0.56% | 0.78% | 1.12% | 1.66% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Quitman, Mississippi
In Quitman, 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 Clarke 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 Quitman, 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 Quitman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Quitman is $58,260, with the 25th percentile tax bill at $348 and the 75th percentile at $949. The zip code 39355 has the highest and lowest median tax bill at $620.
Average Quitman Assessed Value
$58,260
Average Clarke County Assessed Value
$54,740
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quitman, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39355 | $17,600 | $35,020 | $58,260 | $89,130 | $140,522 |
Source: Ownwell
Property Tax Bills Across Quitman, Mississippi
In Quitman, Clarke County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $58,260, the tax bill can vary significantly. Factors such as property location, home improvements, and local tax rates are considered. In Quitman, the median tax bill stands at $620, which is notably lower than the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $348, while those in the 75th percentile see bills closer to $949. For the top 10% of homeowners, tax bills can reach up to $1,481. These variations affect homeowners by influencing their annual financial obligations and potentially impacting their decisions on home improvements and property investments. Understanding these factors can help homeowners better anticipate their property tax responsibilities and plan their finances accordingly.
Average Quitman Tax Bill
$620
Average Clarke County Tax Bill
$608
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Quitman, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39355 | $171 | $348 | $620 | $949 | $1,481 |
Source: Ownwell