D Lo, Mississippi Property Taxes
The median property tax rate in D LO, MS is 1.69%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in D LO, the typical annual property tax bill reaches $425, which is significantly lower than the national median of $2,690. Property taxes in D LO 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 D LO'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 D LO or another part of Simpson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
D Lo, 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 D LO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in D LO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in D LO 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 Simpson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across D Lo, Mississippi
Property taxes in D LO, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in D LO is 1.69%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within D LO set these rates annually, and they can vary significantly across different neighborhoods. Each year, D LO 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 D LO's effective property tax rate to other counties in Mississippi and the national median. For comparison, the zip code 39062 has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with D LO provides valuable insights into the varying tax landscape across Simpson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average D Lo Tax Rate
1.69%
Average Simpson County Tax Rate
0.99%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across D Lo, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39062 | 0.54% | 0.84% | 1.69% | 1.88% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across D Lo, Mississippi
In D'Lo, 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 Simpson 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 D'Lo, 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 D'Lo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in D'Lo is $41,060, with tax bills ranging from $178 at the 25th percentile to $1,073 at the 90th percentile. The zip code 39062 has both the highest and lowest median tax bill at $425.
Average D Lo Assessed Value
$41,060
Average Simpson County Assessed Value
$52,820
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across D Lo, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39062 | $9,508 | $21,780 | $41,060 | $63,310 | $85,284 |
Source: Ownwell
Property Tax Bills Across D Lo, Mississippi
In D'Lo, Simpson County, MS, property tax bills are determined based on the assessed value of the property, which is a percentage of the market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $41,060, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as the property's location, improvements, and exemptions play a significant role in the final tax amount. In D'Lo, the 25th percentile tax bill is $178, while the 75th percentile tax bill reaches $842, indicating a wide range of tax obligations among homeowners. At the 90th percentile, tax bills can go up to $1,073. Compared to the national median property tax rate of 0.99%, the tax rates in D'Lo can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors helps homeowners manage their finances and anticipate their annual property tax liabilities.
Average D Lo Tax Bill
$425
Average Simpson County Tax Bill
$510
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across D Lo, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39062 | $98 | $178 | $425 | $842 | $1,073 |
Source: Ownwell