Derma, Calhoun County, Mississippi Property Taxes
The median property tax rate in Derma, MS is 1.78%, considerably higher than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Derma, the typical annual property tax bill reaches $698, which is significantly lower than the national median of $2,690. Property taxes in Derma 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 Derma'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 Derma or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Derma, Calhoun County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$881
$818
Ownwell’s Derma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Derma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Derma 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 Derma, Calhoun County, Mississippi
Property taxes in Derma, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Derma is 1.78%, significantly higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Derma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Derma 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 Derma's effective property tax rate to other areas in Mississippi and the national median. For comparison, the zip code 38839 has the highest median property tax rate of 1.78%, while the same zip code also has the lowest median tax rate of 1.78%. Understanding how these figures compare with Derma provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Derma Tax Rate
1.78%
Average Calhoun County Tax Rate
1.03%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Derma, Calhoun County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38839 | 0.78% | 0.94% | 1.78% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Derma, Calhoun County, Mississippi
In Derma, 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 local 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 Derma, 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 Derma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Derma is $698 in the 38839 zip code, while the lowest median tax bill is also $698 in the same zip code.
Property Tax Assessment Values Across Derma, Calhoun County, Mississippi
Source: Ownwell
$48,136
$60,550
$72,964
Average Derma Assessed Value
$49,495
Average Calhoun County Assessed Value
$55,127
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Derma, Calhoun County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38839 | $14,310 | $30,448 | $49,495 | $59,441 | $89,157 |
Source: Ownwell
Property Tax Bills Across Derma, Calhoun County, Mississippi
In Derma, located in Calhoun County, MS, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Derma, the median home price stands at $49,495. Property tax bills can vary significantly, with the 25th percentile at $365 and the 75th percentile reaching $950. The 90th percentile tax bill can go up to $1,119, indicating a wide range in tax obligations. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Derma's rates reflect the local economic conditions and funding needs for public services. Homeowners must account for these taxes as part of their annual expenses, impacting their overall cost of living and financial planning.
Average Derma Tax Bill
$698
Average Calhoun County Tax Bill
$645
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Derma, Calhoun County, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38839 | $185 | $365 | $698 | $950 | $1,119 |
Source: Ownwell