Tutwiler, Mississippi Property Taxes
The median property tax rate in Tutwiler, MS is 1.00%, 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 Tutwiler at $113,651, the typical annual property tax bill amounts to $1,892, which is below the national median of $2,690. Property taxes in Tutwiler are calculated based on the assessed value, often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Tutwiler'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 Tutwiler 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
Tutwiler, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,137
Ownwell’s Tutwiler Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Tutwiler with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Tutwiler to provide an estimate of your property tax bill. This invaluable tool helps you understand potential tax liabilities. For those interested in more granular details, localized information on neighborhood trends is available further down the page. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Tutwiler, Mississippi
Property taxes in Tutwiler, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tutwiler is 0.63%, which is lower than both the Mississippi state median of 0.81% and the U.S. national median of 0.99%. Local government entities within Tutwiler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tutwiler 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 Tutwiler's effective property tax rate to other counties in Mississippi and the national median. For comparison, the 38963 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Tutwiler provides valuable insights into the varying tax landscape across Coahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tutwiler Tax Rate
1.00%
Average Coahoma County Tax Rate
1.87%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tutwiler, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38963 | 0.60% | 0.87% | 1.00% | 1.64% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Tutwiler, Mississippi
In Tutwiler, 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 Coahoma 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 Tutwiler, 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 Tutwiler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $1892 in zip code 38963, while the lowest is also $1892 in the same zip code.
Average Tutwiler Assessed Value
$113,651
Average Coahoma County Assessed Value
$38,666
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tutwiler, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38963 | $20,245 | $52,280 | $113,651 | $244,564 | $277,500 |
Source: Ownwell
Property Tax Bills Across Tutwiler, Mississippi
In Tutwiler, located in Coahoma County, MS, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. The tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Tutwiler, the median home price is approximately $113,651. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, homeowners in Tutwiler at the 25th percentile pay around $510 annually, while those at the 75th percentile face bills of up to $2,663. The top 10% of property tax bills in the area can reach as high as $4,287. Compared to the national median property tax rate of 0.99%, Tutwiler's property tax rates can be considered relatively moderate but still impactful. These taxes fund essential local services, including schools, public safety, and infrastructure, directly affecting the quality of life for residents.
Average Tutwiler Tax Bill
$1,892
Average Coahoma County Tax Bill
$908
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Tutwiler, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38963 | $209 | $510 | $1,892 | $2,663 | $4,287 |
Source: Ownwell