Shubuta, Mississippi Property Taxes
The median property tax rate in Shubuta, MS is 1.18%, 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 Shubuta at $41,575, the typical annual property tax bill reaches $496, which is significantly below the national median of $2,690. Property taxes in Shubuta 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 Shubuta'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 Shubuta or another part of Clarke County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shubuta, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$491
Ownwell’s Shubuta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shubuta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shubuta 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 Shubuta, Mississippi
Property taxes in Shubuta, Mississippi, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shubuta is 1.18%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Shubuta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shubuta 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 Shubuta's effective property tax rate to other areas in Mississippi and the national median. For comparison, the 39360 zip code has the highest median property tax rate of 1.18%, while the same 39360 zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Shubuta 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 Shubuta Tax Rate
1.18%
Average Clarke County Tax Rate
1.13%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shubuta, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39360 | 0.70% | 0.91% | 1.18% | 1.66% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Shubuta, Mississippi
In Shubuta, 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 Shubuta, 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 Shubuta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 39360 has the highest and lowest median tax bill, both valued at $496.
Average Shubuta Assessed Value
$41,575
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 Shubuta, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39360 | $12,182 | $23,882 | $41,575 | $65,435 | $106,990 |
Source: Ownwell
Property Tax Bills Across Shubuta, Mississippi
In Shubuta, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Clarke County uses this assessed value to determine the tax bill by applying the local tax rate. For homeowners in Shubuta, the median home price stands at $41,575. Property tax bills can vary significantly, with the 25th percentile tax bill at $272 and the 75th percentile reaching $771. For those in the 90th percentile, the tax bill can go as high as $1,208. These tax bills are influenced by several factors, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The highest and lowest median tax bills in the area both stand at $496, indicating a relatively consistent tax burden across different properties. Compared to the national median property tax rate of 0.99%, Shubuta homeowners experience a distinct property tax landscape that can significantly impact their annual financial planning.
Average Shubuta Tax Bill
$496
Average Clarke County Tax Bill
$608
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Shubuta, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39360 | $146 | $272 | $496 | $771 | $1,208 |
Source: Ownwell