Columbia, Mississippi Property Taxes
The median property tax rate in Columbia, MS is 1.82%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Columbia, the typical annual property tax bill reaches $1,542, which is below the national median of $2,690. Property taxes in Columbia are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Columbia'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 Columbia or another part of Pearl River County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Columbia, 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 Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, Mississippi
Property taxes in Columbia, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 1.82%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 39429 zip code has the highest median property tax rate of 1.82%, while the same zip code has the lowest median tax rate of 1.82%. Understanding how these cities compare with Columbia provides valuable insights into the varying tax landscape across Pearl River County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
1.82%
Average Pearl River County Tax Rate
1.68%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | 0.65% | 0.78% | 1.82% | 1.87% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, Mississippi
In Columbia, 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 Pearl River 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 Columbia, 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 Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Columbia is $1,542 in the 39429 zip code.
Average Columbia Assessed Value
$175,530
Average Pearl River County Assessed Value
$56,860
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | $72,060 | $138,870 | $175,530 | $198,580 | $252,376 |
Source: Ownwell
Property Tax Bills Across Columbia, Mississippi
Property tax bills in Columbia, located in Pearl River County, Mississippi, are calculated based on the assessed value of a property, which is typically a percentage of its market value. In Columbia, the median home price stands at $175,530. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Columbia, property taxes can vary significantly. The 25th percentile of tax bills is $791, while the 75th percentile reaches $3,288, and at the 90th percentile, homeowners might see bills as high as $4,460. The median property tax bill in Columbia is $1,542, which is notably higher than the national median property tax rate of 0.99%. This variation in tax bills can affect homeowners by impacting their overall housing costs and potentially influencing their decisions on property investments and renovations.
Average Columbia Tax Bill
$1,542
Average Pearl River County Tax Bill
$690
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39429 | $626 | $791 | $1,542 | $3,288 | $4,460 |
Source: Ownwell