Itawamba County, Mississippi Property Taxes
The median property tax rate in Itawamba County is 1.04%, which is 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 Itawamba County at $62,360, the typical annual property tax bill amounts to $669, significantly below the national median of $2,690. Property taxes in Itawamba County are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Itawamba 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 Fulton or another part of Itawamba County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Itawamba County, Mississippi Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$649
$602
Ownwell’s Itawamba County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Itawamba County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Itawamba County 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’s 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 Itawamba County, Mississippi
Property taxes in Itawamba County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Itawamba County is 1.04%, which is higher than both the Mississippi state median and the U.S. national median of 0.99%. Local government entities within Itawamba County set these rates annually, and they can vary significantly between different areas within the county. Each year, Itawamba 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 Itawamba County's effective property tax rate with other counties in Mississippi and the national median. For comparison, the city of Greenwood Springs has one of the higher property tax rates in Mississippi at 1.45%, while the city of Smithville boasts one of the lowest at 0.98%. Analyzing how Itawamba County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Itawamba County Tax Rate
1.04%
Average Mississippi Tax Rate
1.31%
Average United States Tax Rate
0.99%
Property Tax Rates Across Itawamba County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | 0.87% | 0.89% | 1.01% | 1.94% | 1.94% |
| Fulton | 0.51% | 0.89% | 1.08% | 1.94% | 1.94% |
| Golden | 0.61% | 0.89% | 1.01% | 1.94% | 1.94% |
| Greenwood Springs | N/A | N/A | N/A | N/A | N/A |
| Guntown | 0.81% | 0.92% | 1.07% | 1.11% | 1.32% |
| Mantachie | 0.50% | 0.89% | 0.99% | 1.94% | 1.94% |
| Marietta | 0.70% | 0.89% | 1.00% | 1.30% | 1.94% |
| Mooreville | N/A | N/A | N/A | N/A | N/A |
| Nettleton | 0.51% | 0.89% | 1.05% | 1.94% | 1.95% |
| Smithville | 0.81% | 0.89% | 0.98% | 1.31% | 1.94% |
| Tremont | 0.61% | 0.89% | 1.09% | 1.94% | 1.95% |
| Tupelo | 0.60% | 0.89% | 1.06% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Itawamba County, Mississippi
In Itawamba 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 Itawamba 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 Itawamba 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 Itawamba County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Guntown has the highest median tax bill at $1,187, while Greenwood Springs has the lowest at $441.
Property Tax Assessment Values Across Itawamba County, Mississippi
Source: Ownwell
$52,740
$69,980
$87,220
Average Itawamba County Assessed Value
$62,360
Average Mississippi Assessed Value
$68,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Itawamba County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | $10,914 | $25,415 | $58,332 | $81,670 | $137,308 |
| Fulton | $15,692 | $40,682 | $64,390 | $98,820 | $159,152 |
| Golden | $11,830 | $27,792 | $54,985 | $82,448 | $119,285 |
| Greenwood Springs | N/A | N/A | N/A | N/A | N/A |
| Guntown | $51,320 | $65,740 | $87,220 | $117,380 | $156,820 |
| Mantachie | $17,392 | $42,800 | $67,020 | $95,550 | $144,170 |
| Marietta | $14,314 | $35,800 | $62,190 | $87,910 | $137,844 |
| Mooreville | N/A | N/A | N/A | N/A | N/A |
| Nettleton | $11,070 | $29,365 | $54,200 | $81,790 | $120,530 |
| Smithville | $20,196 | $48,455 | $67,640 | $97,060 | $168,378 |
| Tremont | $10,601 | $25,448 | $52,740 | $79,160 | $110,468 |
| Tupelo | $14,843 | $29,758 | $55,218 | $75,965 | $135,869 |
Source: Ownwell
Property Tax Bills Across Itawamba County, Mississippi
In Itawamba 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 is $62,360. Tax rates are applied to this assessed value to determine the annual tax bill. Homeowners in Itawamba County can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $371, while the 75th percentile tax bill reaches approximately $1,144. At the 90th percentile, homeowners might pay as much as $1,809 annually. Several factors influence these tax bills, including the home’s location within the county and any applicable exemptions or deductions. For example, Guntown has the highest median tax bill at $1,187, while Greenwood Springs enjoys a lower median tax bill of $441. These property taxes directly impact homeowners by influencing their monthly mortgage payments and overall housing costs, making it crucial for residents to understand how their tax bills are determined.
Average Itawamba County Tax Bill
$669
Average Mississippi Tax Bill
$854
Average United States Tax Bill
$2,690
Property Tax Bills Across Itawamba County, Mississippi
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baldwyn | $110 | $236 | $580 | $1,058 | $1,640 |
| Fulton | $154 | $413 | $729 | $1,242 | $1,976 |
| Golden | $127 | $285 | $580 | $946 | $1,513 |
| Greenwood Springs | N/A | N/A | N/A | N/A | N/A |
| Guntown | $413 | $639 | $1,187 | $1,343 | $1,926 |
| Mantachie | $161 | $406 | $695 | $1,126 | $1,704 |
| Marietta | $114 | $333 | $702 | $1,231 | $1,644 |
| Mooreville | N/A | N/A | N/A | N/A | N/A |
| Nettleton | $149 | $269 | $610 | $983 | $1,554 |
| Smithville | $149 | $384 | $600 | $1,103 | $1,934 |
| Tremont | $127 | $248 | $534 | $955 | $1,500 |
| Tupelo | $152 | $421 | $575 | $980 | $1,427 |
Source: Ownwell