Covington County, Mississippi Property Taxes
The median property tax rate in Covington County is 0.76%, which is significantly lower than both the national median of 0.99% and the Mississippi state median of 1.31%. With the median home value in Covington County at $57,690, the typical annual property tax bill amounts to $431, well below the national median of $2,690. Property taxes in Covington County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as primary residence and agricultural exemptions. Understanding Covington County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Collins or another part of Covington County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Covington County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$438
$407
Ownwell’s Covington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Covington with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Covington to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Covington County, Mississippi
Property taxes in Covington County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Covington County is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Covington County set these rates annually, and they can vary significantly between different areas within the county. Each year, Covington County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Covington County's effective property tax rate with other areas in Mississippi and the national median. For comparison, the city of Hattiesburg has one of the higher property tax rates in Mississippi at 1.35%, while the city of Seminary boasts one of the lowest at 0.73%. Analyzing how Covington County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Covington County Tax Rate
0.76%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Covington County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Collins | 0.41% | 0.49% | 0.73% | 1.35% | 1.35% |
| Hattiesburg | 0.54% | 0.66% | 1.35% | 1.36% | 1.36% |
| Mount Olive | 0.42% | 0.50% | 1.02% | 1.35% | 1.35% |
| Prentiss | N/A | N/A | N/A | N/A | N/A |
| Seminary | 0.43% | 0.50% | 0.73% | 1.35% | 1.36% |
| Sumrall | 0.38% | 0.58% | 0.74% | 1.35% | 1.35% |
| Taylorsville | 0.46% | 0.50% | 0.89% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Covington County, Mississippi
In Covington County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Covington County Appraisal District. The assessed value, however, 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. Assessment notices in Covington County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Covington County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Covington County, the city with the highest median tax bill is Hattiesburg at $781, while Taylorsville has the lowest at $282. By understanding these differences, property owners can better plan and manage their property tax obligations.
Property Tax Assessment Values Across Covington County, Mississippi
Source: Ownwell
$35,170
$70,425
$105,680
Average Covington County Assessed Value
$57,690
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Covington County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Collins | $10,240 | $29,505 | $59,130 | $94,010 | $150,550 |
| Hattiesburg | $11,410 | $33,165 | $62,975 | $122,395 | $204,405 |
| Mount Olive | $8,634 | $21,555 | $47,220 | $76,230 | $128,672 |
| Prentiss | N/A | N/A | N/A | N/A | N/A |
| Seminary | $11,020 | $27,510 | $63,120 | $111,380 | $173,616 |
| Sumrall | $18,815 | $52,570 | $105,680 | $167,785 | $249,880 |
| Taylorsville | $7,394 | $17,770 | $35,170 | $62,970 | $96,154 |
Source: Ownwell
Property Tax Bills Across Covington County, Mississippi
In Covington County, MS, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the county stands at $57,690. Homeowners' tax bills can vary significantly, influenced by the assessed value and the local tax rate. For instance, the tax bill at the 25th percentile is $190, while at the 75th percentile, it rises to $841, and at the 90th percentile, it reaches $1,356. The highest median tax bill in the county is found in Hattiesburg at $781, whereas Taylorsville has the lowest at $282. These values are crucial as they directly impact homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Covington County's property taxes can be relatively modest, providing some financial relief to homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Covington County Tax Bill
$431
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Covington County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Collins | $81 | $195 | $414 | $809 | $1,287 |
| Hattiesburg | $153 | $430 | $781 | $990 | $1,650 |
| Mount Olive | $75 | $156 | $341 | $675 | $1,150 |
| Prentiss | N/A | N/A | N/A | N/A | N/A |
| Seminary | $96 | $199 | $478 | $929 | $1,493 |
| Sumrall | $148 | $379 | $776 | $1,345 | $2,096 |
| Taylorsville | $54 | $134 | $282 | $536 | $870 |
Source: Ownwell