Lumberton, Mississippi Property Taxes
The median property tax rate in Lumberton, MS is 0.94%, which is slightly below the national median of 0.99% and significantly lower than the Mississippi state median of 1.31%. With a median home value of $56,030 in Lumberton, the typical annual property tax bill amounts to $493, far less than the national median of $2,690. Property taxes in Lumberton are based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Lumberton's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're situated in the heart of Lumberton or in another part of the city, gaining insight into the local property tax system is beneficial for managing costs effectively.
Last Updated June 14, 2024
Lumberton, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$527
$489
Ownwell’s Lumberton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Lumberton. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Lumberton to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value, determined by the county, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Lumberton, Mississippi
Property taxes in Lumberton, Mississippi, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lumberton is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Lumberton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lumberton 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 Lumberton's effective property tax rate to other areas in Mississippi and the national median. For comparison, the 39455 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Lumberton provides valuable insights into the varying tax landscape across Forrest County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lumberton Tax Rate
0.94%
Average Forrest County Tax Rate
1.50%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lumberton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39455 | 0.26% | 0.81% | 0.94% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Lumberton, Mississippi
In Lumberton, 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 Forrest 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 Lumberton, 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 Lumberton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $493.00, found in zip code 39455.
Average Lumberton Assessed Value
$56,030
Average Forrest County Assessed Value
$72,000
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lumberton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39455 | $16,098 | $27,300 | $56,030 | $85,860 | $120,224 |
Source: Ownwell
Property Tax Bills Across Lumberton, Mississippi
In Lumberton, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. Homeowners in Lumberton, Forrest County, can expect their property tax rates to vary, but the median tax bill is $493. This figure is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, properties within the 39455 zip code have a consistent median tax bill of $493. Homeowners at the 25th percentile pay around $263, while those at the 75th percentile face bills closer to $912. The highest tax bills, at the 90th percentile, can reach up to $1411. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Therefore, understanding how these taxes are calculated can help homeowners in Lumberton better manage their finances and anticipate annual expenses.
Average Lumberton Tax Bill
$493
Average Forrest County Tax Bill
$1,069
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Lumberton, Mississippi
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39455 | $121 | $263 | $493 | $912 | $1,411 |
Source: Ownwell